In 2005, the European Union began a program to
A) reduce greenhouse gas emissions by 10 percent within 5 years.
B) eliminate greenhouse gas emissions by 50 percent within 15 years.
C) subsidize firms that pollute more than a given limit.
D) allow the trading of carbon-dioxide permits among firms.
D
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In the model of monopolistic competition, trade costs between countries cause
A) marginal costs of exported goods to exceed the marginal costs of goods sold domestically. B) marginal costs of goods sold domestically to exceed the marginal costs of exported goods. C) all firms that can earn a profit on domestic sales to export their goods at lower prices. D) all firms that can earn a profit on domestic sales to export their goods at higher prices. E) countries to negotiate the elimination of trade costs by mutual subsidization of trade.
Adding together the growth rate of labor input and the growth rate of labor productivity yields the growth rate of
a. nominal GDP. b. actual GDP. c. potential GDP. d. final GDP.
If a tax is levied on the buyers of a product, then there will be a(n)
a. downward shift of the supply curve. b. upward shift of the supply curve. c. movement up and to the right along the supply curve. d. movement down and to the left along the supply curve.
Consider the labor market for short-order cooks. An increase in the wages paid to fast-food workers will cause
a. both equilibrium wages and equilibrium employment to increase in the market for short-order cooks. b. both equilibrium wages and equilibrium employment to decrease in the market for short-order cooks. c. equilibrium wages to increase and equilibrium employment to decrease in the market for short-order cooks. d. equilibrium wages to decrease and equilibrium employment to increase in the market for short-order cooks.