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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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.
Monopolistically competitive firms advertise to differentiate their product from those of competitors.
Answer the following statement true (T) or false (F)
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
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