When a binding price ceiling is imposed on a market to benefit buyers,
a. every buyer in the market benefits.
b. every buyer and seller in the market benefits.
c. every buyer who wants to buy the good will be able to do so, but only if he waits in long lines.
d. some buyers will not be able to buy any amount of the good.
d
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Japan’s remarkable economic growth in the 20th century was a result of _____.
If the Fed wishes to reduce nominal interest rates, it must engage in an open market ________ of bonds to ________ the money supply.
A. sale; decrease B. purchase; decrease C. sale; increase D. purchase; increase
Answer the following statement(s) true (T) or false (F)
1. Most studies suggest the economic effects of climate change on the U.S. economy will be relatively small. 2. The U.S. federal government has enacted a nationwide carbon tax to reduce carbon dioxide emissions. 3. According to the U.S. Supreme Court, greenhouse gases are a pollutant, as defined by the Clean Air Act. 4. In the EU-ETS allowance market, the price of an allowance can be affected by the state of the economy. 5. Renewable energy certificates are market instruments that represent the displacement of power generated by fossil fuels, an outcome that helps to reduce GHG emissions.
Recall the Application about fire protection and the median-voter rule to answer following question(s).In the Application, the decision of the community regarding the purchase a firetruck to lower the community fire rating ultimately depends on the changes in the premium and tax liability of:
A. the median voter in the community. B. all the voters in the community. C. the city council of the community. D. the richest voter in the community.