An effluent fee is more effective when imposed on
A) the firm or producer of the product which generates pollution.
B) the consumer of the product.
C) neither the producer nor the consumer of the product.
D) the supplier of the raw material used by the firm.
Answer: A
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During the colonial period, regulation of business activities was the right of government and its duty—extensive regulation was done, such as licensing, inspection, price fixing, etc
Which statement best describes regulation in the decades after 1789? (a) Regulation continued at about the same level as during the colonial period. (b) As commerce and manufacturing became more complex, the old police-power controls by detailed inspection became increasingly difficult to maintain and many controls were abolished by the states. (c) Because the economy was becoming more complicated, the task of regulation shifted to the federal government. (d) Regulation was abandoned because it was inconsistent with property rights guaranteed by the Constitution.
The OLS estimator
A) has the multivariate normal asymptotic distribution in large samples. B) is t-distributed. C) has the multivariate normal distribution regardless of the sample size. D) is F-distributed.
The Superfund was designed to clean up
a. the acid rain problem b. air pollution from automobiles, buses, and trucks c. water pollution from agricultural sources (i.e., pesticides) d. water pollution from dumping raw sewage e. toxic waste dumps
In 1989, Hurricane Hugo devastated Charleston, South Carolina, leaving residents with no electricity for light or refrigeration, and completely cut off from the outside world by fallen trees and washed-out roads. Consequently, the price of ice rose 1,000 percent and generators 300 percent. Tree removal firms were charging $4,000 to cut up a single tree. Outraged, the city government enacted an
emergency law prohibiting price "gouging." This law is an example of a. the cost disease of services. b. a price ceiling. c. the laissez-faire rule. d. the indispensable necessity syndrome.