Discrimination occurs when the marketplace offers different opportunities to similar individuals who differ only by
a. race.
b. level of education.
c. attitudes toward risk.
d. All of the above are forms of discrimination.
a
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One advantage about an emissions permit system is that
a. it creates a "license to pollute," sure to be popular with environmentalists. b. it reduces uncertainty about the quantity of pollution that will be emitted. c. it is a direct control system and avoids the inefficiencies of a market. d. permits can be handed out on the basis of need to protect firms from high costs.
The CPI is a measure of the overall cost of the goods and services bought by
a. a typical firm. b. the government. c. a typical consumer. d. All of the above are correct.
If the production of paper causes economic damage to a community, allowing the market to set the price of paper equal to the private marginal cost of producing paper will
a. generate less than the optimal quantity of paper produced b. generate more than the optimal quantity of paper produced c. generate an equilibrium price that is higher than the price associated with the market's most efficient level of output d. cause some but not all paper producers to go out of business e. benefit society because of externalities generated by the production
An excise tariff is:
A. the fee an importing firm must pay to the domestic government on each unit it brings into the domestic market. B. a restriction limiting the quantity of imported goods that can legally enter a domestic market. C. a fixed fee that an importing firm must pay the domestic government in order to have the legal right to sell the product in the domestic market. D. None of the statements are correct.