Tariffs are more desirable than quotas if a government wants to increase revenues and reduce benefits to inefficient exporters.
Answer the following statement true (T) or false (F)
True
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Agricultural price supports refer to
A) minimum prices set by the government on certain farm products. B) maximum prices set by the government on certain farm products. C) supply-restricting policies imposed by the government on certain farm products. D) b and c E) none of the above
People choose to do something:
A. when they believe the costs outweigh the benefits of the decision. B. when they believe their decision cannot be questioned by anyone else. C. when they believe it won't harm anyone and will better themselves. D. when they believe the benefits outweigh the costs of the decision.
A price support on agricultural products is a minimum domestic price set by the government. The government outlaws transactions below the price support, but usually has no commitment to buy any amounts that farmers cannot sell at this price.
Answer the following statement true (T) or false (F)
Recall the Application about determining the optimal level of methane abatement to answer the following question(s).Recall the Application. The EPA has estimated the cost of methane recovery at different recovery levels. Given those costs, the efficient level of methane recovery:
A. depends on the estimate of the marginal benefit of methane recovery. B. is zero because the costs exceed the benefits. C. will increase if scientists determine that methane is not as harmful as it is currently thought to be. D. will include only recovery from landfills and coal mines, but not from natural gas distribution.