The United States has relatively low tariffs.
Answer the following statement true (T) or false (F)
True
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Congressman Murphy made the following proposal: "We should establish policies that completely eliminate air pollution. This is the only way to ensure that none of our citizens suffer the negative effects of air pollution"
If Congressman Murphy's proposal was adopted and all forms of air pollution were eliminated, which of the following would be true? A) The total cost of pollution reductions would equal the total benefit to society. B) The marginal cost from pollution reductions would exceed the marginal benefit. C) The total benefit to society from reductions in air pollution would be maximized. D) Economic efficiency would be maximized
Microeconomics studies
A) decisions made by individual consumers and firms. B) the changes in economic theory brought about by real-world events. C) how small changes in the unemployment rate can have far-reaching effects. D) how small changes in the money supply can have far-reaching effects.
How might a market research analyst use measures of elasticity-price, cross, and income-in her work? Explain
When market price is above equilibrium price
A. a shortage is generated. B. market price will rise. C. quantity supplied is greater than quantity demanded. D. None of these choices are correct.