Logrolling is
A. a system used often at lumberjack contests.
B. a system that will always lead to worthy projects getting funded.
C. a system that involves the trading of votes.
D. a system that generally involves double-peaked preferences.
C. a system that involves the trading of votes.
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Marginal revenue for a perfectly competitive firm equals: a. the addition to total cost from producing one more unit of output. b. average revenue at all levels of output
c. marginal cost at all levels of output. d. average total cost at all levels of output.
Q.E.
What will be an ideal response?
An advantage of pollution taxes that is not offered by command-and-control policies is that:
A. with a pollution tax, zero pollution is produced. B. a pollution tax decreases the price of the polluting good. C. with a pollution tax, firms have flexibility in their choice of strategies to use to clean up pollution. D. a pollution tax decreases the demands for goods that cause pollution.
As a last resort the federal government may provide direct income support to farmers. One potential advantage of direct income supports is that they
A. Raise market prices. B. Provide income security without distorting market prices and output. C. Increase market output. D. Reduce consumption.