When an effluent fee is put in place,
a. all polluting sources will abate the same number of units, regardless of cost differences
b. cost savings can be realized
c. an efficient solution is assured
d. each polluting source reduces effluents to zero to avoid the fee
b. cost savings can be realized
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In 1981, the Fed
A) publicly announced an inflation reduction policy and created a recession. B) took no action so that the inflation rate skyrocketed. C) created an unexpected inflation reduction policy and created a recession. D) created an unexpected inflation reduction policy and created an expansion. E) publicly announced an inflation reduction policy and created an expansion. The figure above shows some Phillips curves for an economy.
If oil prices increase, then in the short run, real GDP will ________ and the price level will ________
A) increase; rise B) increase; fall C) decrease; rise D) decrease; fall E) not change; rise
Developing countries have identified which key issues as important to them in current trade talks?
What will be an ideal response?
When average variable cost is falling ______.
a. the average total cost curve must be moving upward b. the point of diminishing marginal product has set in c. marginal cost must be less than the average variable cost d. the average fixed cost curve crosses it at its lowest point