Total cost can be divided into two types of costs:
a. fixed costs and variable costs.
b. fixed costs and marginal costs.
c. variable costs and marginal costs.
d. average costs and marginal costs.
a
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Which of the following is a difference between corrective taxes and tradable pollution permits?
a. Corrective taxes are a market-based solution while tradable pollution permits are a command-and-control policy. b. With a corrective tax the government sets the price of pollution; with tradable pollution permits, demand and supply set the price of pollution. c. With corrective taxes firms pay for pollution; with tradable pollution permits firms do not. d. Corrective taxes internalize the pollution externality while tradable pollution permits do not.
If a country went from a government budget deficit to a surplus, national saving would
a. increase, shifting the supply of loanable funds right. b. increase, shifting the supply of loanable funds left. c. decrease, shifting the demand for loanable funds right. d. decrease, shifting the demand for loanable funds left.
It is difficult to engage in long-term financial planning when inflation is:
A. high and erratic. B. low and stable. C. predictable. D. accounted for through indexing.
A binding minimum wage is a type of:
a. quota. b. price floor. c. price ceiling. d. tax incidence.