Which of the following best describes the impact of the Emissions Trading Scheme in the European Union between 2005 and the late 2000s?
A) Overall greenhouse gas emissions increased.
B) Overall greenhouse gas emissions decreased.
C) Overall greenhouse gas emissions were totally eliminated.
D) Overall greenhouse gas emissions were constant.
Ans: A) Overall greenhouse gas emissions increased.
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According to the BEA, in the second quarter of 2012 business spending on equipment and software rose by 4.7 percent. Using the expenditure approach, this change increases
A) gross private domestic investment. B) government expenditure on goods and services. C) net exports of goods and services. D) personal consumption expenditures.
Technology spillover is one type of
a. negative externality. b. positive externality. c. subsidy. d. producer surplus.
When a profit-maximizing firm in a monopolistically competitive market is in long-run equilibrium,
a. the demand curve will be perfectly elastic. b. price exceeds marginal cost. c. marginal cost must be falling. d. marginal revenue exceeds marginal cost.
Building a good reputation in the marketplace:
A. is not a significant value to a seller. B. is easy to fake. C. can take a long time to establish. D. All of these statements are true.