Market-oriented economists favor the use of _____ to solve the global warming problem
a. explicit emission targets
b. taxes on emissions
c. tradable rights
d. Both (a) and (b)
e. Both (b) and (c)
e. Both (b) and (c)
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"An Inquiry into the Nature and Causes of the Wealth of Nations" published in 1776 was written by
A) Alfred Marshall. B) Karl Marx. C) John Maynard Keynes. D) Adam Smith.
To stay with a fixed exchange rate system, a nation that is losing most of its international reserves will have no choice but to
A) ask for or declare a devaluation. B) ask for or declare a revaluation. C) let its currency depreciate. D) let its currency appreciate.
Suppose that Google announces that its profits for the third quarter of 2013 were $1.6 billion. As a result of this announcement the price of Google's stock declines. The best explanation of this is
A) market participants expected Google's profits to be greater than $1.6 billion for the third quarter. B) market participants expected Google's profits to be less than $1.6 billion for the third quarter. C) the stock market is not an efficient market. D) market participants have adaptive expectations.
Last Word) Over the past twenty-five years, China has averaged annual growth rates of nearly:
A. 5 percent. B. 9 percent. C. 12 percent. D. 15 percent.