Probably the toughest part of creating a good mitigation strategy for global climate change is that it is
A. an economics problem.
B. an issue that lacks public support.
C. not certain that global climate change is even occurring.
D. an international problem.
Answer: D
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Rent controls are an example of a
A) price floor. B) price ceiling. C) price floor for the consumer and a price ceiling for the producer. D) nonprice rationing device.
From an economic point of view, someone who goes shopping for groceries every week has a great deal of practice with how to purchase the combination of goods that will provide the most utility, even if the shopper doesn't phrase decisions in terms of a budget constraint
a. True b. False Indicate whether the statement is true or false
If policy makers wanted to use both monetary and fiscal policy to stimulate demand and reduce a high rate of unemployment, which of the following would be most appropriate?
a. a larger budget deficit and the purchase of securities in the open market b. a government surplus and the sale of securities in the open market c. a larger government deficit and an increase in the discount rate d. a government surplus and a reduction in the discount rate
What is the meaning of the phrase "dilemma of regulation"?
A. Natural monopolies achieve economies of scale but charge high prices when there is no government regulation; government regulation reduces prices but results in diseconomies of scale. B. The competitive price achieves allocative efficiency but may produce economic losses; the normal profit price yields a normal profit but may not be allocatively efficient. C. The normal profit price achieves allocative efficiency but may produce economic losses; the competitive price yields an economic profit but may not be allocatively efficient. D. Natural monopolies are profitable but only if the government permits price discrimination; government regulation to restrict price discrimination reduces monopoly prices, but the regulation also reduces monopoly output.