Refer to the above figure. Suppose demand is D2 and then increases to D3. Economic rent after the change is
A) zero.
B) area CIHF.
C) area CIGO.
D) area BJC.
C
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Answer the following statement(s) true (T) or false (F)
1. In the United States, the National Emission Standards for Hazardous Air Pollutants (NESHAP) are set to reach the maximum reduction of each toxic achievable, which is known as the maximum achievable control technology (MACT). 2. A State Implementation Plan (SIP) outlines procedures for a state to implement, monitor, and enforce the NAAQS but not the NESHAP. 3. Air Quality Control Regions (AQCRs) are those geographic areas in the United States identified as having met all air quality standards. 4. Air quality in the United States is monitored either by estimating emissions levels or by measuring pollutant concentrations. 5. Environmental justice is an equity criterion that has increased in importance over time in U.S. policy decisions.
Consider Figure 12.5. If neither player confesses, then:
A. both players spend 4 years in jail. B. both players spend 1 year in jail. C. player A spends 0 years in jail, and player B spends 8 years in jail. D. player A spends 8 years in jail, and player B spends 0 years in jail.
According to mainstream economists, the Fed's adherence to a traditional monetary rule rather than to discretionary monetary policy is likely to:
A. reduce the severity of business cycles. B. increase the amount of instability in the economy. C. increase the rate of inflation. D. crowd out much-needed investment spending during times of rapid inflation.
Refer to the tables. The opportunity cost of the fifth unit of capital goods:
Answer the question on the basis of the following production possibilities tables for two countries, North Cantina and South Cantina:
A. is higher in North Cantina than in South Cantina.
B. is the same in North Cantina and South Cantina.
C. is lower in North Cantina than in South Cantina.
D. cannot be determined from the information provided.