Which of the following would be efficient from an economic perspective?
a. Reducing the crime rate to zero
b. Changing speed limits and safety requirements so that there were no traffic fatalities or injuries each year.
c. Completely eliminating the emission of greenhouse gases
d. None of the above would be efficient from an economic perspective.
d
You might also like to view...
________ are documents that represent agreements between two or more parties about rights to payments of money
Fill in the blank(s) with correct word
"Perfectly competitive firms have total control over the price they set for their product." Explain why the previous statement is correct or incorrect
What will be an ideal response?
A firm using a two-part tariff faces a tradeoff because
A) any increase in consumer surplus must be offset by a decrease in producer surplus. B) the only way to increase the fixed-fee portion of the price is to lower the per-unit portion of the price. C) the only way to increase total revenue is to lower per-unit profit. D) the smaller the variation between the parts of the price, the greater the deadweight loss generated by the pricing scheme.
Which of the following is NOT a true statement regarding free trade?
A) Free trade promotes specialization and efficient production. B) Free trade generally reduces the domestic prices of imports. C) Free trade may stimulate economic growth through export sales. D) Every individual in a country gains short-term benefits from free trade.