When one firm sells its pollution permit to another firm,
a. both firms benefit.
b. the total amount of pollution remains the same.
c. the total amount of pollution decreases.
d. Both a and b are correct.
d
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The unemployment rate is the number of people unemployed divided by the
A) number of people employed, then multiplied by 100. B) working-age population, then multiplied by 100. C) labor force, then multiplied by 100. D) labor force participation rate, then multiplied by the population. E) population, then multiplied by 100.
The above figure shows the short run cost curves for a typical firm in a competitive market. If price = 4, then the firm
A) is earning positive profits. B) should produce 35 units. C) should shut down. D) None of above.
Refer to Figure 2-14. Points A, B, and D represent feasible outcomes for this economy.
Indicate whether the statement is true or false.
Which of the following illustrates the law of demand?
A. More people watch college football in March than in December. B. The number of long distance calls in the United States is greater on Christmas than on Valentine's Day. C. The prevailing wage rate in an industry determines how many people choose to work in the industry. D. College enrollment decreases when tuition increases.