Regulations to reduce pollution
a. cause pollution levels to drop below the regulated amount.
b. are typically a more costly solution to society than a corrective tax.
c. allow firms with the lowest cost to reduce pollution by more than those with the highest costs.
d. are a better solution for the environment than a corrective tax.
b
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Consider two industries, industry Q and industry Z. In industry Q there are 10 companies, each with a market share of 10% of total sales. In industry Z, there are eight companies
One company has a 65% market share and each of the other seven firms has a market share of 5%. a. Calculate the four-firm concentration ratio for each industry. b. Calculate the Herfindahl-Hirschman Index (HHI) for each industry. c. What do the values of the two concentration measures imply about the degree of market power in the two industries?
Large differences in interest rates between countries would indicate that
A) the global market is thriving. B) there is good communication between countries about potential global investment opportunities. C) there are unrealized gains from trade. D) the market is in danger of collapse. E) the supply growth exceeds the aggregate demand.
Calculate the elasticity for each variable and briefly comment on what information this gives you in each case
What will be an ideal response?
A major distinction to be made is that deficits count government spending shortfalls ___________, and public debt counts _______________.
A. in a year; the total amount owed from all years B. from all years; the total from a single year C. in real terms; in nominal terms D. as a percentage of GDP; in nominal terms