One advantage about an emissions permit system is that
A. it creates a “license to pollute,” sure to be popular with environmentalists.
B. it reduces uncertainty about the quantity of pollution that will be emitted.
C. it is a direct control system and avoids the inefficiencies of a market.
D. permits can be handed out on the basis of need to protect firms from high costs.
Answer: B
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What are the primary determinants of agricultural labor productivity?
What will be an ideal response?
The price elasticity of supply is __________ elastic over time because ___________.
A. less; producers get accustomed to the price changes B. less; the ideal number of firms have time to move into or out of the industry C. more; producers have a longer time to adjust their production decisions D. more; producers get accustomed to the price changes
The best definition of inflation is a(n):
a. temporary increase in prices. b. increase in the price of one important commodity such as food. c. persistent increase in the general level of prices as measured by a price index. d. increase in the purchasing power of the dollar.
If government tax revenues change automatically and in a countercyclical direction over the course of the business cycle, this would be called a(n):
A. expansionary fiscal policy. B. nondiscretionary fiscal policy. C. discretionary fiscal policy. D. political business cycle.