Answer the following statement(s) true (T) or false (F)
1. An implication of Paul Portney’s benefit-cost analysis of the 1990 Clean Air Act Amendments is that the United States is under-regulating air pollution.
2. Based on the EPA’s first and second prospective studies of the 1990 Clean Air Act Amendments, the associated net benefits of this legislation are greater than zero.
3. The NAAQS are established using benefit-cost analysis.
4. Because the NAAQS are nationally-based and uniform, they necessarily achieve an efficient result at the regional level.
5. The more stringent standards in PSD areas do not necessarily result in an efficient level of abatement in those regions.
1. False
2. True
3. False
4. False
5. True
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A price ceiling is a legally determined maximum price that sellers may charge
Indicate whether the statement is true or false
A need to make choices exists because of
a. scarcity of resources. b. the abundance of goods. c. unlimited human needs and wants. d. both scarcity of resources and unlimited human needs and wants.
The Law of Supply ensures that supply curves slope upward
Indicate whether the statement is true or false
Venture capital reduces the rate of economic growth.
Answer the following statement true (T) or false (F)