Producing leather creates external costs in the form of water pollution. The figure above illustrates the market for leather. If the government sets a pollution limit that achieves efficiency, how many tons of leather are produced?
A) 0 tons
B) 200 tons
C) 300 tons
D) more than 300 tons
E) more than 0 tons and less than 200 tons
C
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The main reason the United States' standard of living is higher than that of India and China is that we have more
A. land. B. labor. C. capital. D. money.
The central bank in the United States is the ________.
A) Federal Reserve System B) U.S. Exchange Reserve C) Board of Governors D) U.S. Treasury
Refer to the given figure and assumptions. It suggests that:
(1) Employers in this market are willing and able to ignore minimum wage laws;
(2) S d represents the supply of domestic-born (and legal immigrant) workers; (3) S t represents
the total supply of workers in this labor market (S d plus illegal immigrants); and (4) unless
otherwise stated, illegal immigration is not effectively blocked by the government.
A. illegal immigrant workers are in this market because these are jobs that domestic-born
workers are unwilling to do.
B. employment of domestic-born workers could be increased by 20,000 if illegal immigration
were blocked.
C. the presence of illegal immigrants in this labor market reduces wages, making these jobs
less attractive to domestic-born workers.
D. firms hiring from this labor market would be forced to shut down if illegal immigration were
blocked.
From 2007 to 2013, total tuition revenue to public institutions of higher education
A. decreased 15%. B. increased 26%. C. increased 52%. D. remained constant.