Japan did not lead the world in automobile production in the 1950s because _________________________.
Fill in the blank(s) with the appropriate word(s).
Japan's industrial plant had been destroyed during World War II
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Recently, the State of Tennessee discovered chemical compounds in their drinking water which may cause cancer. Since Tennessee's drinking water comes from the Pigeon River in North Carolina, the source of these chemicals is the waste discharges of industrial paper plants in North Carolina. This is an example of a(n):
a. external cost imposed on the citizens of Tennessee by the industrial plants of North Carolina. b. market failure where the market price of the output of these industrial plants does not fully reflect the social cost of producing these goods. c. externality where the marginal social costs of producing these industrial goods differ from the marginal private costs. d. all of these.
Annual automobile emissions testing is an example of which type of pollution policy?
a. Tradable permits b. Pollution taxes c. Pollution subsidies d. Setting property rights e. Standards
If a firm is operating on the production function, then workers:
A. are usually putting forth minimal effort. B. may not be putting forth maximal effort. C. are usually putting forth average effort. D. must be putting forth maximal effort.
When the Federal Reserve loans money to banks, the rate it charges banks with excellent credit is the
A. exchange rate. B. primary credit rate. C. discount rate. D. real interest rate.