An example of the command-and-control approach to environmental policy is:
a. allowing individuals to sue freon producers if CFC emissions exceed a government-set standard.
b. allowing coal producers to buy and sell permits to allow CFC emissions.
c. placing a tax on freon to reduce its use and the corresponding CFC emissions (which contribute to the ozone hole).
d. none of these.
d
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A supply schedule is determined by the wishes of
A. sellers. B. buyers. C. sellers and buyers. D. neither sellers or buyers.
Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the table below.Hours inEastOrchardNumber ofApples PerHourHours inWestOrchardNumber ofApples PerHour140110232210325310420410What is the marginal benefit to Frank of the 2nd hour he spends picking in the east orchard?
A. 64 apples B. 32 apples C. 8 apples D. 24 apples
If a country does not engage in trade with other countries, it is known as
A. A trade surplus economy. B. A trade deficit economy. C. An open economy. D. A closed economy.
Which statement is true?
A. One basis for monopoly is control over an essential resource. B. All forms of a monopoly are illegal in the United States. C. Economies of being established is the same as economies of scale. D. General Motors is a monopoly.