Economists generally believe that
A. regulation is the only effective way to reduce pollution.
B. free market activity cannot coexist with a clean environment and regulation is the only effective way to reduce pollution.
C. private incentives can be used to motivate individuals to act "green."
D. free market activity cannot coexist with a clean environment.
Answer: C
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Which of the following was not one of the reasons that a Big Push might be necessary?
a. finding foreign markets for export b. indivisibility of investments c. long gestation period of investments d. lack of local entrepreneurs e. none of the above were reasons for a Big Push
If the United States is to reduce poverty by using a negative income tax, the guaranteed income should be
a. two times the tax rate. b. close to the poverty line. c. close to the median income of all families. d. above the poverty line.
Steve and Craig have been shipwrecked on a deserted island in the South Pacific. Their economic activity consists of either gathering pineapples or fishing. Steve can catch 4 fish in 1 hour or harvest 2 baskets of pineapples. At the same time, Craig can
reel in 2 fish or harvest 2 baskets of pineapples. If they each spend four hours a day fishing and four hours a day harvesting pineapples, what will their total production be? If Steve only catches fishes and Craig only harvests pineapples, how will total production change?
If consumers have a long time to respond to an increase in electricity prices their demand is likely to be ________ than if they are only given a short time.
A. no different B. higher C. more elastic D. less elastic