Which of the following best describes the impact of the Emissions Trading Scheme in the European Union between 2005 and the late 2010s?
A) Overall greenhouse gas emissions increased.
B) Overall greenhouse gas emissions decreased.
C) Overall greenhouse gas emissions were totally eliminated.
D) Overall greenhouse gas emissions were constant.
Answer: A
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If the price of peanuts increases by 10 percent and the price of potato chips does not change, then the relative price of peanuts with respect to potato chips will ________ and the relative price of potato chips with respect to peanuts will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Initially a bank has a required reserve ratio of 10 percent and no excess reserves. If $1,000 is deposited into the bank, then, ceteris paribus,
A. Required reserves will increase by $1,000. B. Total reserves will increase by $900. C. This bank can increase its loans by $1,000. D. This bank can increase its loans by $900.
Which of the following is true about an oligopoly equilibrium in comparison with equilibrium under similar circumstances but with perfect competition?
a. Output is smaller and price is lower than under perfect competition. b. Output is smaller and price is higher than under perfect competition. c. Output is larger but price is higher than under perfect competition. d. Output is larger and price is lower than under perfect competition.
Figure 10-11
In , which of the following would most likely cause the movement from point E1 to point E2?
a.
an increase in the expected inflation rate
b.
a decrease in the expected inflation rate
c.
a major technological advance
d.
a temporary reduction in oil prices