Markets for pollution rights:
a. have never been tried in the United States
b. assign property rights to those who value them least
c. allow the government to assign property rights
d. enable those who value them most to pollute
e. are less efficient than pollution standards
Ans: d. enable those who value them most to pollute
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In a closed economy, private saving is equal to which of the following? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) Y + TR - C - T B) Y - C - T C) Y - G - T + TR D) Y - G - T
Which of the following is true?
a. Advertising on a national scale became a widely accepted practice, but only after the Civil War. b. The first attempts at advertising on more than the local level were directed at consumers rather than retailers. c. By 1920, advertising was a billion-dollar industry. d. Only a and b are correct. e. Only a and c are correct.
Suppose a banking system has a required reserve ratio of 0.10. How much can the money supply increase in response to a $500 increase in excess reserves for the whole banking system?
A. $4,500. B. $5,000. C. $50. D. $500.
The real wage will fall if price ________ the nominal wage
a. decreases more than b. increases more than c. increases less than d. decreases less than