Which one of the following pollutant types is most difficult to regulate?
a. A local flow pollutant
b. A regional flow pollutant
c. A local stock pollutant
d. A regional stock pollutant
e. A global stock pollutant
Answer: e. A global stock pollutant
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In the expectations-augmented Phillips curve, ? = ?e - 3(u - 0.06). When ? = 0.06 and ?e = 0.03, the unemployment rate is
A) 0.04. B) 0.05. C) 0.06. D) 0.07.
Suppose the economy is initially experiencing a short-run recessionary gap. An increase in the size of the budget deficit will
A) increase the size of the recessionary gap. B) reduce the size of the recessionary gap. C) lead to an increase in prices with no increase in real GDP. D) lead to a decrease in prices with an increase in real GDP.
The marginal social cost of air quality increases as air quality increases. If the dirtiest production process would create 700 tons of pollutants, then
a. eliminating the first 20 tons of pollution is cheaper than eliminating the last 20 tons b. eliminating the last 20 tons of pollution is cheaper than eliminating the first 20 tons c. more damage will be done by the first 20 tons of pollution than by the last 20 tons d. more damage will be done by the last 20 tons of pollution than by the first 20 tons e. the optimal level of air quality is to reduce pollution by 700 tons
When relatively few workers have high ability,
A) they will settle for the average wage. B) they will want to signal their ability. C) the premium for high ability is less than when most workers have high ability. D) they do not need to signal their ability.