Which of the following is true about the market equilibrium?
a. As the price increases, the quantity demanded and the quantity supplied increases.
b. As the price increases, the quantity demanded and the quantity supplied decreases.
c. As the price increases, the quantity demanded increases and the quantity supplied decreases
d. As the price increases, the quantity demanded decreases and the quantity supplied increases.
e. As the price increases, neither the quantity demanded nor quantity supplied change.
D
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Assume the market in the graph shown with demand D and supply S1 is in equilibrium at a quantity of 5 units. Total surplus is:
A. $5.
B. $15.
C. $12.50.
D. $60.
Answer the following statement(s) true (T) or false (F)
1. According to the Clean Air Act, the newly GHG emissions standards on mobile sources triggered regulatory requirements for stationary sources. 2. Under a bubble policy, a facility is allowed to measure its emissions as an average of all releases from that facility. 3. The Acid Rain Program (ARP) was defined in Title II of the Clean Air Act Amendments of 1990. 4. Under the Acid Rain Program (ARP) as initially outlined in the CAAA of 1990, a cap-and-trade allowance program was established for both SO2 and NOX. 5. Under the cap-and-trade program established under Title IV of the Clean Air Act Amendments of 1990, a permanent annual cap for SO2 was set and tradeable SO2 allowances were issued to stationary sources.
In the open-economy macroeconomic model, the supply curve of currency is vertical because the quantity of currency supplied does not depend on the real exchange rate
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 17.2 below to answer the question(s) that follow. 
Figure 17.2 Refer to Figure 17.2. Sam has two job offers when he graduates from college. Sam views the offers as identical, except for the salary terms. The first offer is at a fixed annual salary of $60,000. The second offer is at a fixed salary of $30,000 plus a possible bonus of $60,000. Sam believes that he has a 50-50 chance of earning the bonus. If Sam takes the offer that maximizes his expected utility and is risk-neutral, which job offer will he choose?
A. Sam will take the first offer. B. Sam will take the second offer. C. Sam is indifferent between the offers-both yield the same expected utility. D. Indeterminate from the given information.