Which of the following has also been called the command and control approach?
a. Direct controls
b. Voluntary compliance
c. Tradable emissions permits
d. Taxes on pollution
a
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In the Malthusian model, an improvement in the technology of growing food is likely to
A) increase the equilibrium size of the population and increase the equilibrium level of consumption per worker. B) increase the equilibrium size of the population and decrease the equilibrium level of consumption per worker. C) increase the equilibrium size of the population and have no effect on the equilibrium level of consumption per worker. D) have no effect on the equilibrium size of the population and increase the equilibrium level of consumption per worker.
If a firm experiences constant returns to scale at all output levels, then its long-run average total cost curve would
a. slope downward b. be horizontal c. slope upward d. slope downward for low output levels and upward for high output levels e. slope upward for low output levels and downward for high output levels
In monopsonistic markets, workers are paid less than their
a. MRP b. MLC c. wage rate d. marginal product e. marginal revenue
The prices of telecommunications services have decreased due to productivity increases
a. True b. False Indicate whether the statement is true or false