Answer the following statement(s) true (T) or false (F)
1. Fiscal policy refers to the government's ability to print money.
2. Kobe beef, which some consider the best beef in the world, is produced in Japan and sold in the U.S. (in extremely limited quantities); this is an example of a U.S. import.
1. False
2. True
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Two companies, Dirty Inc. and Filthy Inc., each of which has access to 5 different production processes, each of which has a different cost and produces a different amount of pollution. The daily costs of the processes and the number of tons of smoke emitted are shown in the table below.Process(smoke/day) A(4 tons/day) B(3 tons/day) C(2 tons/day) D(1 ton/day) E(0 tons/day) Cost to Dirty Inc. ($/day) $110$200$380$740$1,460 Cost to Filthy Inc. ($/day) $400$430$490$580 $700Suppose pollution is initially unregulated. If the City Council imposes a tax of $91 per day on each ton of smoke emitted, then total emissions will fall to ________ tons of smoke per day.
A. 1 B. 4 C. 2 D. 8
A spontaneous order emerges from individual decisions that cause something to "work" without anyone planning for it to "work".
Answer the following statement true (T) or false (F)
One thing that is common for all bank loans is that they are:
A. unsecured. B. securitized. C. part of the banks' assets. D. liquid.
If profit regulation is used to control a natural monopolist, the monopolist is likely to
A. Reduce maintenance of plants and equipment. B. Increase the quality of its product in an effort to increase sales. C. Attempt to reduce the costs of production. D. Inflate or pad the costs of production.