One challenge associated with command-and-control regulations is that once a company meets an environmental standard, there is:
a. always another one to meet.
b. no way to enforce further compliance.
c. no incentive to exceed it.
d. a production cost that the government must pay.
c. no incentive to exceed it.
Command-and-control regulation offers no incentive to improve the quality of the environment beyond the standard set by a particular law. Once the command-and-control regulation has been satisfied, polluters have no incentive to do better.
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The current Medicare system is designed so that it actually encourages
A) cost reductions. B) higher costs of medical services. C) higher costs only for surgeries. D) lower drug costs for recipients.
In long-run equilibrium, the typical perfectly competitive firm has no incentive to:
a. change output. b. change plant size. c. enter or leave the industry. d. do any of these.
Americans buying Japanese cars create a
A) demand for U.S. dollars and supply of Japanese yen. B) demand for both U.S. dollars and Japanese yen. C) supply of U.S. dollars and demand for Japanese yen. D) supply of both U.S. dollars and Japanese yen.
Which one of these would be considered an LDC?
A. Malawi B. Taiwan C. Hong Kong D. South Korea