Refer to Figure 13.2. If Oliver's political views place him at the L4 position and George's political views place him at the C4 position, Bobby's preference for mayor is
A) Oliver Cousins.
B) George Glass.
C) Bobby is indifferent between the two candidates.
D) Bobby definitely does not like either candidate.
B
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The authority of the government to take private property for public use, given just compensation to the owner, is known as
A) search and seizure. B) eminent domain. C) authoritarian capitalism. D) internalizing an externality.
According to the textbook application, the largest oil tanker spill in history
a. occurred when two tankers collided in 1979 off the coast of Trinidad and Tobago b. involved the Exxon Valdezin 1989 c. was associated with the Hebei Spirit in 2007 d. occurred as the result of an explosion of a deepwater oil rig
Suppose an oil refinery and a paper mill both pollute a river. Under a system of marketable pollution permits, which of the following must be true in order for both companies to benefit from trading the right to pollute?
A. They must be able to reduce pollution at exactly the same cost. B. It must cost the firms different amounts to reduce pollution. C. They must have a social conscience and must be devoted to pollution abatement. D. The government must direct them toward beneficial trades.
During the Financial Crisis of 2007-2008, Goldman Sachs, Morgan Stanley, and other financial firms with heavy exposure to the mortgage-related problems rushed to become bank holding companies in order to:
A. Follow the order of the U.S. Treasury B. Obtain bail-out money from Congress C. Get massive loans from the Fed D. Acquire funds from the general public