Recall the Application about how the price of CO2 permits in the European Union is determined to answer the following question(s).Recall the Application. In the European Union, the term they use for pollution permits is:
A. allowances.
B. caps.
C. trades.
D. emissions.
Answer: A
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High fuel prices and losses by smaller firms have resulted in a considerable amount of consolidation in the trucking industry, which now most closely resembles the oligopoly market structure
Indicate whether the statement is true or false
Which of the following is a justification for taxes?
a. the ability-to-pay principle b. the progressive tax principle c. the proportional tax principle d. the regressive tax principle e. the desire of the government to spend more funds
"Tariffs are necessary for reasons of national security." Discuss the validity of this statement
If the cost of producing a good rises for sellers, then how will this affect the market equilibrium for that good?
a. Price will rise and quantity will fall. b. Price and quantity will both rise. c. Price and quantity will both fall. d. Price will fall and quantity will rise.