Which of the following are not methods of dealing with externalities?
a. relying on voluntary compliance
b. creating new property forms
c. taxing the output of industries that pollute
d. creating legal environmental standards
e. increasing public spending on cleanup/reduction
A
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If a negative externality results from the refining of oil, the cost of production as seen by the oil refinery: a. does not include the external cost
b. includes the external cost. c. does not include the external benefit. d. includes the external benefit.
A foreign firm that is selling below cost and is accused of dumping often:
a. lowers its price further to increase the tariff imposed. b. moves its production to the importing nation to avoid the tariff completely. c. raises its export prices to reap the rents and avoid the antidumping tariff completely. d. calls for a ruling by the WTO.
Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 210 computers are produced per week. Given this information, there
A. is diminishing marginal product. B. are too many workers. C. is increasing marginal product. D. are not enough workers.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.