Which market-oriented environmental policy tool works best when millions of users emit small amounts of pollution?
a. Marketable permits
b. Property rights definitions
c. Pollution charges
d. Command-and-control
c. Pollution charges
A pollution charge is a tax imposed on the quantity of pollution emitted. For cases in which millions of users emit small amounts of pollution—such as emissions from car engines or unrecycled soda cans—and those users have no strong interest in trading, pollution charges typically offer a better choice.
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Using the midpoint method, if the price of an airline ticket from Orlando to Pittsburgh falls from $275 to $238, the percentage change in price is
A) 1442 percent. B) 14.42 percent. C) 15.54 percent. D) 13.45 percent. E) 68.00 percent.
A positive real interest rate indicates
a. how fast the number of dollars in your savings account is rising over time. b. how fast the purchasing power of your savings account is rising over time. c. the number of dollars in your savings account today. d. the purchasing power of your savings account today.
Which of the following is not a factor of production?
A. Six thousand acres of farmland. B. A bulldozer. C. $100,000 cash. D. A psychiatrist.
Suppose a perfectly competitive industry is in long-run equilibrium. If a decrease in demand leads to a higher long-run price, we know that
A) this is a decreasing-cost industry. B) this is an increasing-cost industry. C) some firms will be losing money in the long run. D) after further adjustments, price will fall to its original level.