Voluntarism often has proved to be weak and unreliable. Does it still have a place in controlling activities that damage the environment?
What will be an ideal response?
Yes, voluntary measures do have their place. They are appropriate where surveillance and, consequently, enforcement is impractical, as in the prevention of littering by campers in isolated areas, where appeals to people’s consciences are the only alternative. And in brief but serious emergencies, which do not allow for time to plan and enact a systematic program, voluntary compliance may be the only workable approach.
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At the time of the South Korean financial crisis, the merchant banks were
A) almost virtually unregulated. B) subject to heavy government regulation. C) engaged in long-term lending to the corporate sector. D) restricted to long-term foreign borrowing.
In the financial crisis in 2008, the Federal government created the ________, to purchase financial assets that were thought to be temporarily undervalued, preventing further financial panic
A) Federal Home Loan Board. B) Troubled Asset Relief Program. C) Federal Deposit Insurance Corporation. D) Bank Insurance Fund.
Compared to perfect competition, monopoly
a. provides less output. b. charges a higher price. c. results in higher cost (inefficient) production. d. All of the above are correct.
Italy has a comparative advantage in the production of which product?
