Direct controls have a clear advantage where
a. an emission is so dangerous that it is prohibited altogether.
b. a sudden change in circumstances calls for prompt and substantial change in conduct.
c. effective and dependable metering devices have not been invented or are prohibitively costly to install and operate.
d. All of the above create an advantage.
d
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Excessive dependence on cheaper foreign imports can cause a(n) ________ in certain sectors of the economy
A) leftward shift in the domestic labor demand curve. B) upward movement along the domestic labor demand curve. C) rightward shift in the domestic labor demand curve. D) downward movement along the domestic labor demand curve.
In the long run, a perfectly competitive firm is expected to generate either an economic profit or an economic loss
a. True b. False Indicate whether the statement is true or false
Which of the following is not an example of a barrier to entry?
a. Mighty Mitch's Mining Company owns a unique plot of land in Tanzania, under which lies the only large deposit of Tanzanite in the world. b. A chemist receives a patent for a new skin cream. c. An entrepreneur opens a cupcake bakery. d. A taxi cab driver in New York City obtains a license to legally provide transportation in New York City.
Which of the following best describes the agricultural sector for much of the 20th century and today?
A) high productivity, price elasticity of demand less than 1, income elasticity of demand greater than 1 B) low productivity, price elasticity of demand greater than 1, income elasticity of demand less than 1 C) high productivity, price elasticity of demand less than 1, income elasticity of demand less than 1 D) low productivity, price elasticity of demand less than 1, income elasticity of demand greater than 1