Technological advances in pollution reduction:
A. reduce the demand for pollution permits.
B. increase the demand for pollution permits.
C. reduce the supply of pollution permits.
D. increase the supply of pollution permits.
Answer: A
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The figure above shows Sam's budget line. Which of the following combinations of gasoline and coffee are not available to Sam?
A) 40 gallons of gasoline and 0 pounds of coffee B) 32 gallons of gasoline and 4 pounds of coffee C) 8 gallons of gasoline and 8 pounds of coffee D) 16 gallons of gasoline and 16 pounds of coffee
If commercial banks hold all their assets in the form of required reserves:
A. only they will be able to create money. B. no one will be able to create money. C. both commercial banks and the central bank will be able to create money. D. only the central bank will be able to create money.
The steeper the Security Market Line:
A. the lower the risk premium. B. the more investors dislike risk. C. the less investors are concerned about risk. D. the greater the risk-free interest rate.
The view that changes in the money supply is the primary cause of change in real output and the price level is most closely associated with:
A. Rational expectations theory B. Real business cycle theory C. Mainstream economics D. Monetarism