A nationwide system of marketable pollution permits will reduce pollution overall, but might increase pollution in some high abatement cost areas.
Answer the following statement true (T) or false (F)
True
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How does a government-sponsored good differ from a public good?
What will be an ideal response?
In which market structure do firms consider the actions of their rivals when setting prices and output?
a. monopoly b. oligopoly c. perfect competition d. both monopoly and perfect competition e. monopolistic competition
Suppose Larry's Lariats produces lassos, and uses nine feet of rope to make each lasso. The rope is put into a machine that automatically cuts it to the right length, then seals the ends to prevent fraying. The rope is then hand tied, dipped, and wound before being placed in a packaging machine to prepare it for retail sale. The total costs for this company would include:
A. employee's wages. B. the rope-cutting machine. C. the cost of rope. D. All of these expenses would be included in total cost.
The multiplier ensures that equilibrium GDP equals full-employment GDP.
Answer the following statement true (T) or false (F)