Direct controls that impose equal percentage reductions in emissions on all firms in the area
A. impose the same costs on all firms.
B. minimize the cost of pollution reduction.
C. penalize firms that have already incurred some costs to reduce pollution.
D. are the fairest way to distribute the burden
Answer: C
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A voluntary export restraint will ________ producer surplus, ________ consumer surplus, ________ government revenue, and ________ overall domestic national welfare
A) increase; decrease; increase; have an ambiguous effect on B) increase; decrease; decrease; decrease C) increase; decrease; have no effect on; have an ambiguous effect on D) increase; decrease; have no effect on; decrease E) increase; increase; decrease; have an ambiguous effect on
Refer to Scenario 17.1. The lowest level of y* that can be set and still have only the high-productivity people meet it is
A) 16. B) 13 1/3. C) 13. D) 8. E) 0.
Which of the following is not included in either M1 or M2?
a. U.S. Treasury bills b. small time deposits c. demand deposits d. money market mutual funds
Which are not generally considered to be complementary goods?
a. Beef and chicken b. Razors and razor blades c. Gasoline and motor oil d. Beer and pretzels