Which of the following is the most efficient way to reduce pollution emissions?
a. Emission standards that cap allowable pollution.
b. Government pollution charges or taxes.
c. Legislated regulations limiting the quantity of emissions allowed by each firm.
d. Enforcement of property rights, when those rights are well-defined and transaction costs are low.
D
You might also like to view...
Suppose that Canada decides to peg its dollar ($C, or the loonie) to the U.S. dollar at an exchange rate of $C1 = $US1. What is likely to happen to U.S. GDP following the leftward shift of its IS curve?
A) It will rise. B) It will fall. C) It will not change. D) It will rise dramatically.
Data on DVD sales for three different years can best be compared by using a
a. crystal ball b. bar graph c. psychic d. pie graph
One year nominal GDP was $36 trillion and the price index was 120. Real GDP that year was:
a. $12 trillion b. $30 trillion c. $48 trillion d. $24 trillion
Answer the following questions true (T) or false (F)
1. Perfectly competitive industries tend to produce low-priced, low-technology products. 2. The market demand curve in a perfectly competitive market is downward sloping. 3. An increase in a firm's fixed cost will not change the firm's profit-maximizing output in the short run.