Many economists argue that the most efficient way to control pollution is to
A. ban all activities that create pollution.
B. enforce legal standards on air and water quality.
C. promote environmental awareness among citizens.
D. impose taxes on emissions.
Answer: D
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In most cases, higher interest rates cause the velocity of M1 to
A) turn negative. B) move erratically. C) increase. D) decline.
____ occur when an X percent increase in input use raises output by more than X percent, so that the more the firm produces, the lower its per-unit costs become
a. Economies of scope b. Scale economies c. Product differentiation d. Perfect competition
When a firm experiences diminishing marginal product, what is the shape of the curve that represents the value of the marginal product of labor?
a. U-shaped b. vertical c. downward sloping d. upward sloping
Supply-side economics is a short-run, countercyclical strategy.
Indicate whether the statement is true or false