An advantage emission taxes and permits have over direct controls is that the former
A. works well even if pollution output cannot be accurately measured.
B. can respond quickly to new information about the dangers of particular pollutants.
C. makes it in firms’ interests to reduce pollution in the most efficient manner possible.
D. reduces pollution to zero.
Answer: C
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Two of the most important macroeconomic issues are unemployment and inflation.
Answer the following statement true (T) or false (F)
If the U.S. Treasury in 1865 had decided to make the dollar convertible into gold at the pre-War rate,
a. relatively cheap British goods would have been highly desired by American consumers. b. the U.S. treasury would have quickly found its stock of gold depleted. c. British citizens would have converted large amounts of pounds into dollars. d. All of the above are correct. e. Only a and b are correct.
Which of the following are scarce resources?
A. Space in a building B. The time of a manager C. Pharmaceuticals D. all of the above
Which of the following has the highest Herfindahl-Hirschman index?
A) monopoly B) monopolistic competition C) oligopoly D) any of the above, depending on the size of firm sales