According to the principle of subsidiarity, in which of the following areas should the authority for making decisions be taken from national governments and given to the EU?
A) Pollution of a trans-national waterway
B) Limits on the hours retails stores are allowed to be open
C) Highway traffic laws
D) Recycling requirements on packaging
A
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________ are profits that accrue to whomever has the right to import the quota restricted good
A) Quota licenses B) Quota rents C) Quota prices D) None of the above.
A point inside the production possibility frontier is:
A. inefficient. B. impossible. C. efficient. D. optimal.
For two goods, X and Y, to be classified as substitutes, it must be the case that:
A. when the price of X rises, the demand for Y increases. B. X and Y are identical. C. when the price of X rises, the demand for Y decreases. D. consumers tend to purchase both items together.
What is the chain-weighted price index for GDP in the base year?
A. 0 B. 1 C. 100 D. The answer depends on the price index for the current year.