A drought in California destroys many red grapes. As a result of the drought, the consumer surplus in the market for red grapes
a. increases, and the consumer surplus in the market for red wine increases.
b. increases, and the consumer surplus in the market for red wine decreases.
c. decreases, and the consumer surplus in the market for red wine increases.
d. decreases, and the consumer surplus in the market for red wine decreases.
d
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Answer the following statement(s) true (T) or false (F)
1. In the United States, the National Emission Standards for Hazardous Air Pollutants (NESHAP) are set to reach the maximum reduction of each toxic achievable, which is known as the maximum achievable control technology (MACT). 2. A State Implementation Plan (SIP) outlines procedures for a state to implement, monitor, and enforce the NAAQS but not the NESHAP. 3. Air Quality Control Regions (AQCRs) are those geographic areas in the United States identified as having met all air quality standards. 4. Air quality in the United States is monitored either by estimating emissions levels or by measuring pollutant concentrations. 5. Environmental justice is an equity criterion that has increased in importance over time in U.S. policy decisions.
Which of the following categories accounts for roughly 70% of all federal spending?
a. Regional development, law enforcement and the judicial system, and administrative costs b. Transportation, housing, education, and income support for the poor c. International affairs, science and technology, and natural resources d. National defense, Social Security, health care, and interest payments
If a country's economic decisions are made by an individual or small number of individuals, then it has a:
A. free-market economy. B. capitalist economy. C. open economy. D. centralized economy.
The government agency that computes the CPI is the _____.
Fill in the blank(s) with the appropriate word(s).