A command-and-control approach to environmental policy
a. requires that the least amount of resources be used to achieve an objective
b. uses incentives to encourage pollution reduction
c. uses limits or restrictions to directly regulate polluters
d. is rarely used by governments in the United States and other nations
c. uses limits or restrictions to directly regulate polluters
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The tables above show the marginal costs and benefits from production of paper. If the market is perfectly competitive and unregulated, the equilibrium price is ________ per ton
A) $60 B) $70 C) $80 D) $90
If incomes grow during the next year, what will happen in the market for RVs? (Assume that RVs are normal goods.)
What will be an ideal response?
If televisions are normal goods, a fall in income will
a. Increase the demand for cars b. Decrease the demand for cars c. Have no effect on the demand for cars d. None of the above
Other things the same, a government budget deficit
a. reduces public saving, but not national saving. b. reduces national saving, but not public saving. c. reduces both public and national saving. d. reduces neither public saving nor national saving.