Markets for pollution rights:
a. have never been tried in the United States.
b. assign property rights to those who value them least.
c. allow the government to assign property rights.
d. enable those who value them most to pollute.
d
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Several firms in an industry laid off their workers. Assuming all else equal, this will lead to a ________
A) higher rate of output in the industry B) higher rate of capacity utilization in the industry C) lower rate of capacity utilization in the industry D) higher real wage in the industry
U.S. automakers have an interest to make it more difficult for European competitors to locate assembly plants in Canada or Mexico and thereby ship finished automobiles to the United States duty-free. This is an example of
A) trade deflection. B) trade diversion. C) quotas. D) rules of origin.
Excess demand for a specific foreign currency, such as the pound, implies a
A. Capital account surplus for the United States. B. Capital account deficit for the United States. C. Balance-of-payments surplus for the United States. D. Balance-of-payments deficit for the United States.
Assume that the total utilities for the fifth and sixth units of a good consumed are 83 and 97, respectively. The marginal utility for the sixth unit is:
a. -14 b. 14 c. 83 d. 97