Imposing fines on companies that contribute heavily to air and water pollution is an attempt to bring marginal private costs in line with marginal social costs
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
A "satisficer" is a person whose decision making is the same as that predicted by mainstream economic models
a. True b. False Indicate whether the statement is true or false
The Wall Street Journal magazine offers a significant discount to students who purchase a one-year subscription. If the reason for the discount is price discrimination, we can conclude that:
A. students have a less elastic demand for newspapers than does the general public. B. there is no difference between a student's elasticity of demand for newspapers and any other person's elasticity of demand. C. students have a more elastic demand for newspapers than does the general public. D. students have a perfectly inelastic demand for newspapers.
As the price of gasoline rose during the 1970s, consumers cut back on their use of gasoline relative to other consumer goods. This situation contributed to which bias in the consumer price index?
A. substitution bias B. transportation bias C. quality bias D. indexing bias
If we let P = the domestic price of a basket of goods and Pf the foreign price of the same basket of goods, and ? = the nominal exchange rate of U.S. $/foreign currency the real exchange rate is best expressed as:
A. Pf / P × ? B. P / Pf ×? C. ? × P / Pf D. Pf / P