Carbon monoxide in the air is_____ than its 1975 level.
A. 25% more
B. 3% less
C. 3% more
D. 67% less
Answer: D
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Refer to Scenario 15-5. How much additional profit can the airline earn by charging each customer their willingness to pay relative to charging a flat price of $600 per ticket?
a. $15,000 b. $25,000 c. $40,000 d. $70,000
Explain how a pollution tax is different from a Pigouvian tax. Discuss how incentives for firms differ under the two types of taxes, and what would be required of the government if it were to structure a Pigouvian tax system to mimic the effects of a pollution tax.
What will be an ideal response?
Refer to Figure 21-2. Which of the following is consistent with the graph depicted above?
A) There is a shift from an income tax to a consumption tax. B) The government runs a budget surplus. C) New government regulations decrease the profitability of new investment. D) An expected expansion increases the profitability of new investment. Figure 21-3
The quantity that sellers wish to sell tends to ________ as price increases, and so the supply curve is ________ sloping.
A. decrease; upward B. increase; upward C. decrease; downward D. increase; downward