Which of the following achieves the efficient use of a common resource?
a) property rights, individual transferable quotas, and subsidies
b) individual transferable quotas and copyrights
c) property rights, quotas, and individuals transferable quotas
d) property rights, quotas, and subsidies
Ans: c) property rights, quotas, and individuals transferable quotas
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What will be an ideal response?
Usually the demand for labor decreases (that is, the demand for labor curve shifts leftward) if the
A) wage rate increases. B) wage rate decreases. C) price of the firm's output rises. D) prices of other factors fall.
Using the fiscal year 2014 estimates, the largest component of state and local revenue is the
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a. is one reason economies always experience some unemployment. b. is the process of matching workers with appropriate jobs. c. would not be a problem if all workers and all jobs were the same. d. All of the above are correct.