Under a transferable emissions permit system,
A) the firms with the lowest marginal abatement cost curves will reduce emissions most.
B) the firms with the highest marginal abatement cost curves will reduce emissions most.
C) the firms with the lowest marginal social cost curves will reduce emissions most.
D) the firms with the highest marginal social cost curves will reduce emissions most.
E) all firms will reduce emissions equally.
A
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Using the data in the table above, the growth rate of real GDP has
A) increased from year to year. B) increased more rapidly from year to year. C) remained constant from year to year. D) slowed from year to year. E) probably changed, but more information is needed about the price level to determine by how much it has changed.
Which of the following statements concerning tariffs is NOT true?
A) A tariff results in a deadweight loss. B) A tariff creates revenue for the government. C) A tariff decreases international trade. D) A tariff leaves the price of imports unchanged.
Refer to Table 22-1. Based on the table above, which country has a higher standard of living and why?
A) Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden. B) Sweden has a higher standard of living because their GDP is higher. C) Ireland has a higher standard of living because their GDP per capita is higher. D) Sweden has a higher standard of living because their GDP per capita is higher.
The vertical intercept of the consumption function is used to determine the break-even level of real disposable income
a. True b. False Indicate whether the statement is true or false