Which of the following is the environmental approach found in the Clean Air Act of 1990?
a. Marketable pollution permits.
b. Price caps.
c. Command-and-control regulation.
d. EPA marginal social permits.
a
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Which of the following statements is NOT true about economic growth?
A) Growth is measured as the overall level of real GDP. B) Growth generally means that overall the members of the nation are better off materially. C) When growth occurs the production possibilities curve shifts outward. D) Growth represents an increase in a nation's productive capacity.
A reduction in the marginal tax-rate includes an income effect that tends to increase savings
a. True b. False Indicate whether the statement is true or false
Suppose that the central bank must follow a rule that requires it to increase the money supply when the price level falls and decrease the money supply when the price level rises. If the economy starts from long-run equilibrium and aggregate supply shifts left, the central bank must
a. decrease the money supply so interest rates rise. b. decrease the money supply so interest rates fall. c. increase the money supply so interest rates rise. d. increase the money supply so interest rates fall.
What role do well-functioning financial markets play in a market economy?
What will be an ideal response?