A standard that identifies a pollution limit to be achieved without defining the technology to be used is called a(n)
a. ambient standard c. technology-based standard
b. performance-based standard d. efficient standard
b. performance-based standard
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
The figure above represents the competitive market for slices of key lime pie. When 60 slices are produced, the marginal cost
A) exceeds the marginal benefit. B) is less than the marginal benefit. C) equals the marginal benefit. D) is not defined. E) equals the deadweight loss on the 60th slice.
In the first week in March 1933, ______ banks had shut their doors.
A. a few B. nearly half C. most D. all
Behavioral economists accept that people ________ their well-being but sometimes ________.
A. try to minimize; maximize it B. try to maximize; make mistakes C. try to maximize; maximize their bad choices D. try to maximize; purposefully engage in less than optimal behavior.