The EPA's pollution exhaust standards for passenger vehicles are an example of what kind of approach to government regulation?
A. An educational campaign
B. The behavioral economics approach
C. A market-based solution
D. The command-and-control approach
Answer: D
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Many developing countries make the government budget one of the primary tools of long-run industrial development, with the government owning and operating industries such as steel mills, airlines, and phone companies
Indicate whether the statement is true or false
Which of the following is not an example of an adverse selection problem?
a. A homeowner purchases a refrigerator that the seller knows has a history of leaking. b. A highly productive worker quits her job after a salary cut knowing that she can make more at a different job. c. A major league baseball player performs poorly in his second season after signing a multi-million dollar contract. d. A contractor uses low quality materials for construction but charges for higher quality materials.
If the CPI in 2008 was 100 and the CPI in 2006 was 115, then the inflation rate in 2006 is
A) 100 percent. B) 11.5 percent. C) 115 percent. D) 1.5 percent. E) none of the above.
When a good is excludable:
A. one person's consumption prevents or decreases others' ability to consume it. B. it is possible for sellers to prevent its use by those who have not paid for it. C. the government has specific import policies limiting its supply. D. consumers have a perception of scarcity of that good.