To enforce the optimum level of emissions a government could set an emissions standard at the quantity
A) where the MSB curve crosses the MCA curve.
B) located at the vertical intercept of the MSB curve.
C) located at the horizontal intercept of the MSB curve.
D) located at the vertical intercept of the MCA curve.
E) located at the horizontal intercept of the MCA curve.
A
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In the short run, a supply shock that shifts the short-run aggregate supply curve leftward raises the price level and increases real GDP
Indicate whether the statement is true or false
State and local governments subsidize college students with grants and low-interest loans. The loans and subsidies are examples of
A) emission allowances. B) Coase subsidies. C) Pigovian subsidies. D) positive externalities.
In the four-quadrant diagram of the specific factors model, the graph in the lower right quadrant is a country's
A) production function for cloth. B) production possibility frontier. C) labor allocation constraint. D) production function for food. E) labor supply curve.
When people are educated, they become:
A. more productive to society, because they have more skills to apply to a job. B. less productive to society, because they stop working while in school. C. less productive to society, because they require higher pay per hour. D. more productive to society, because they are paid more.