Mobile sources
a. are major contributors to the formation of photochemical smog
b. release only small amounts of NOX and VOCs
c. play a minor role in the smog problem of Los Angeles
d. have not been linked scientifically to smog formation
a. are major contributors to the formation of photochemical smog
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The imposition of a new excise tax will
A) increase equilibrium price and increase equilibrium quantity. B) increase equilibrium price and decrease equilibrium quantity. C) decrease equilibrium price and increase equilibrium quantity. D) decrease equilibrium price and decrease equilibrium quantity.
Which of the following is NOT an objective of economic regulation?
A) to regulate the prices enterprises are allowed to charge B) to fix prices so that they are never allowed to rise C) to keep rates of return in an industry at a competitive level D) to prevent monopoly profits
Periods of full employment correspond to
A. either points inside or outside the ppf. B. points inside the ppf. C. points on the ppf. D. points outside the ppf.
Tax incidence is the
A. structure of the tax. B. ultimate distribution of a tax's burden. C. behavior of shifting the tax to another party. D. measure of the impact the tax has on employment and output.