In the market for pollution permits, the demand for permits comes from:
A. firms that would prefer to use permits rather than incur abatement costs.
B. the Chicago Board of Trade.
C. firms with low abatement costs.
D. the Environmental Protection Agency.
Answer: A
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Refer to Scenario 25-2. As a result of Kristy's deposit, Bank A's required reserves increase by
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
If Kevin's children run a lemonade stand for a day and sell 200 glasses of lemonade at $0.50 each, their total revenues are
a. $100. b. $199.50. c. $200. d. $400.
Changes in tax rates impact the economy through:
A. Both aggregate demand and aggregate supply. B. Aggregate supply. C. Aggregate demand.
An increase in total revenue results from which of the following?
A. Price decreases when demand is inelastic. B. Price increases when demand is elastic. C. Price decreases when demand is elastic. D. Price increases when demand is unitary elastic.