Which of the following is an advantage to the pollution-rights approach to environmental quality?
A. Polluters are compelled to clean up completely.
B. Polluters have appropriate incentives to clean up.
C. This is a method of direct government regulation.
D. Compliance with legal guidelines is discretionary.
Answer: B
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Job rationing occurs when the real wage is ________ the equilibrium level and there is a ________ of labor
A) below; surplus B) equal to; shortage C) above; surplus D) above; shortage E) below; shortage
The relationship between the number of hours a student studies for an exam and the exam grade is most likely graphed as
A) a line sloping down from upper right to lower left. B) a line sloping down from upper left to lower right. C) a line sloping up from lower left to upper right. D) a line sloping up from lower right to upper left.
A monopolistically competitive firm is producing an output level at which marginal revenue is less than marginal cost. This firm should __________ quantity and __________ price to increase profit or reduce losses
a. increase, increase b. increase; decrease c. decrease; increase d. decrease; decrease e. increase; not change
Monopolistically competitive firms advertise to differentiate their product from those of competitors.
Answer the following statement true (T) or false (F)