If air pollution control is a public good, it follows that:
A. additional persons can benefit from a given amount of air pollution control without reducing the benefits enjoyed by others.
B. the efficient output of air pollution control is zero.
C. the more air pollution control enjoyed by any one person, the less is available to others.
D. the efficient output of air pollution control can be attained by selling it by the unit in a market.
Answer: A
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Who among the following is exercising their right to pollute?
A) The group of campers burning a fire in a designated fire pit at a state forest campsite B) The Sunday morning churchgoer whose auto emits carcinogens from its exhaust pipe C) The publicly-owned and federally-regulated coal-fired electric utility D) All of the above. E) None of the above.
Many economists believe that savings accounts should be added to M1 because they
a. are larger in size than conventional checking accounts. b. pay larger interest than checking accounts. c. can be transferred quickly into checkable accounts. d. are also insured by the federal government.
The primary assumption made in Rawlsian justice is that
A. each individual tries to maximize his or her own well-being at the expense of everyone else. B. people are risk averse. C. the marginal utility of income is decreasing. D. each person will produce according to his or her ability regardless of the reward.
The ________ rate represents the difference between the spot and forward price
A) profit B) swap C) spread D) risk