Comparing a uniform abatement policy, pollution tax and a command-and-control policy, which one is the most efficient approach in dealing with pollution?
A. pollution tax
B. uniform abatement
C. command-and-control
D. All of these are equally efficient.
Answer: A
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? Assume that Figure 4-4 shows demand for MP3 players. An increase in the price of music downloads changes demand from
A. D1to D2. B. D2to D1. C. D2to D3. D. D1to D3.
Explain why a centrally-planned economy might not grow as rapidly as a market economy
What will be an ideal response?
Which of the following is not a reason why the U.S. economy has been more stable since 1950?
A) Unemployment insurance and other government programs curtail the decline in spending that occurs during a recession. B) Services have become a larger fraction of GDP and goods have become a smaller fraction of GDP. C) Goods have become a larger fraction of GDP and services have become a smaller fraction of GDP. D) The government has actively pursued policy to combat recessions and prolong expansions.
Economists study the link between money and inflation because:
A. they want to understand how to keep inflation low and stable. B. the Fed needs to increase the money supply as prices increase. C. as prices increase money becomes more valuable. D. economists believe that inflation in the 3-6% range is healthy for an economy.