The effectiveness of direct controls on pollution depends on: (i) the budgets and enthusiasm of the regulatory bodies; (ii) sufficiently strong statutory penalties.
A. i and ii
B. i but not ii
C. ii but not i
D. neither i nor ii
Answer: A
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In 1886, what did the U.S. Supreme Court rule in Wabash, St. Louis, and Pacific Railway v Illinois?
(a) Only the federal government could regulate commerce across states. (b) Only the states had the right to regulate commerce across states. (c) Neither the federal or state governments had the right to regulate across states. (d) Railroads were not subject to any government regulation, state or federal.
Put the following products in order from the least to the most elastic demand: Domino's pizza, pizza, and pizza from Domino's on the corner of Main Street and 8th Avenue
a. Domino's pizza; pizza; pizza from Domino's on the corner of Main Street and 8th Avenue b. pizza; pizza from Domino's on the corner of Main Street and 8th Avenue; Domino's pizza c. pizza; Domino's pizza; pizza from Domino's on the corner of Main Street and 8th Avenue d. pizza from Domino's on the corner of Main Street and 8th Avenue; Domino's pizza; pizza
Aggressive policy measures taken by the monetary authority during the 2007-2008 financial crisis in the United States resulted in:
a. avoidance of a recession caused by a tight credit market. b. almost no transmission of the monetary stimulus to market rates of interest, increased lending, and expansion of GDP. c. lower rates of interest and increased investment activity. d. an increase of real GDP and a fall in the core unemployment rate.
The marginal revenue product of labor declines as the number of workers increases because
A) firms hire the most efficient workers first and the least efficient workers last. B) firms must lower prices for the final product when they want to sell more units. C) of the law of diminishing marginal product. D) of diseconomies of scale.