Recall the Application about how the price of CO2 permits in the European Union is determined to answer the following question(s).Recall the Application. Which of the following factors has caused the decline in the price of CO2 allowances in the EU in 2011?
A. Industrial output increased.
B. The number of renewable energy sources increased.
C. The number of energy efficient appliances increased.
D. All of these are correct.
Answer: D
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Which of the following will not cause a demand curve to shift position?
a. A doubling of the good's price b. A doubling of the price of a closely substitutable good c. A doubling of income d. A shift in preferences
Assuming that hamburgers and hot dogs are substitutes, an increase in the price of hamburgers, other things being equal, results in a:
a. rightward shift in the demand curve for hot dogs. b. leftward shift in the demand curve for hamburgers. c. rightward shift in the demand curve for hamburgers. d. leftward shift in the demand curve for hot dogs.
If an economy experiences constant opportunity costs with respect to two goods, then the production possibilities curve between the two goods will be?
A. A straight, downward-sloping line. B. Bowed outward or concave from below. C. Bowed inward or convex from below. D. Bowed outward until the two goods are equal, and then bowed inward.
All of the following are deficit items in the balance of payments accounts EXCEPT
A) U.S. residents purchases of gold from foreign residents. B) U.S. tourists spending funds in Europe. C) exports of merchandise. D) U.S. purchases of foreign companies' stocks and bonds.