The economic approach to air pollution is:
A. to use command and control.
B. internalizing the external cost with a pollution tax.
C. marketable pollution permits.
D. a subsidy for cars.
Answer: B
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
An increase in the real wage rate ________ the quantity of labor demanded and ________ the quantity of labor supplied
A) decreases; increases B) increases; increases C) decreases; decreases D) increases; decreases E) does not change; does not change
Physicians who accept assignment on their Medicare patients
a. bill patients for 80 percent of the allowable fee. b. agree to forego balance billing. c. accept the allowable fee for all services. d. agree to charge private insurance patients the same fees as Medicare patients. e. Both b and c.
Refer to Figure 1. The figure represents a circular-flow diagram. Boxes A and B represent
a. firms and households.
b. households and government.
c. the markets for goods and services and the financial markets.
d. the markets for goods and the markets for services