Command-and-control regulation has been highly successful in protecting and cleaning up the U.S. environment. For instance, America’s environment has become much cleaner since the ___________ was passed in 1970.
a. Clean Water Act
b. Clean Air Act
c. Safe Drinking Water Act
d. Wilderness Act
b. Clean Air Act
In 1970, the Clean Air Act was enacted to address air pollution. Just two years later, in 1972, Congress passed the far-reaching Clean Water Act. These command-and-control environmental laws, and their amendments and updates, have been largely responsible for America’s cleaner air and water in recent decades.
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A firm in monopolistic competition ________ influence its price and ________ influence the market average price
A) can; can B) can; cannot C) cannot; can D) cannot; cannot E) can; only in the short run can
Michelle spends all of her income on mangos and rice. Mangos cost $2 per pound and rice costs $1.50 per pound
If Michelle is spending all of her income and the marginal utility per dollar spent is 20 for the last pound of mangos purchased and 10 for the last pound of rice purchased, then A) Michelle is maximizing utility from her present consumption bundle. B) Michelle should buy more rice and fewer mangos in order to maximize utility. C) Michelle should buy more mangos and less rice to maximize utility. D) None of the above answers is correct.
A statement that "a hair stylist should not have to obtain a cosmetology license" is an example of what kind of statement?
A. Uninformed B. Biased C. Positive D. Normative
Five possibilities are equally likely and have payoffs of $2, $4, $6, $8, and $10 . The expected value is:
a. $4 b. $5 c. $6 d. $7