Which of the following is NOT a possible solution to the problem of pollution?
A. regulating the amount of pollution that a firm can produce
B. converting a resource that is communally owned into a privately owned resource
C. imposing a tax on polluters that is related to the amount of pollution
D. subsidizing the costs of production of activities that generate pollution
Answer: D
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Which of the following is true about an individual's choice of insurance assuming state-independent tastes?
A. Full insurance will be chosen from a full menu of actuarily fair insurance if tastes are risk averse. B. No insurance will be chosen if the menu of insurance contracts is actuarily unfair and tastes are risk averse. C. No insurance will be chosen if the menu of insurance contracts is actuarily unfair and tastes are risk-neutral. D. (a) and (b) are true. E. (a) and (c) are true. F. (b) and (c) are true. G. All of the above. H. None of the above
The above figure shows the costs at Barney's Bagel Bakery. As the amount of output increases, the AVC curve approaches the ATC curve because the
A) TFC curve (not shown) slopes down. B) AFC curve (not shown) slopes down. C) MC curve is rising. D) AVC curve is rising.
The demand curve for capital is ____ and its supply curve is ____
a. downward sloping; downward sloping b. upward sloping; upward sloping c. downward sloping; upward sloping d. upward sloping; downward sloping
Identify the economist who first addressed the environmental problem in terms of externalities.
A. Joseph Schumpeter B. Maynard Keynes C. A.C. Pigou D. J.B. Say