Suppose a legislature passes a law that mandates a 50% cut in toxic emissions. What type of analysis would most likely be used to determine how to implement this policy at the lowest cost?
a. Contingent valuation
b. Cost-effectiveness analysis
c. Positional analysis
d. Precautionary principle
e. Safe minimum standard
Ans: b. Cost-effectiveness analysis
You might also like to view...
After the Arab oil embargoes, there was concern about the impact of higher gas prices on the low-income worker. The government imposed price controls on oil to protect the poor from this situation. Explain the inefficiency of this price ceiling and how taxes, rather than prices, could be used to solve the problem.
What will be an ideal response?
In the steady state, assuming that a constant share of the population is working,
A) both real GDP per worker and real GDP per capita will grow at the same rate. B) real GDP per worker will grow at a faster rate than real GDP per capita. C) real GDP per capita will grow at a faster rate than real GDP per worker. D) both real GDP per worker and real GDP per capita will remain constant.
Who is included in the labor force by the Bureau of Labor Statistics?
a. Tina, who worked most of the week in a steel factory b. Kelly, who is temporarily laid off but expects to be recalled c. DJ, who does not have a job but is looking for work d. All of the above are correct.
Diseconomies of scale are pictured on a graph by the upward-sloping portion of the
a. marginal product curve b. short-run marginal cost curve c. long-run marginal cost curve d. short-run average cost curve e. long-run average cost curve