Direct controls imposing identical emission limits on all polluters are
A) efficient if emissions can be accurately monitored, which is seldom possible.
B) equitable because all polluters bear equal costs.
C) likely to require a great deal of high-cost pollution reduction.
D) more efficient and equitable than a system of fines because fines matter less to large than to small polluters.
C
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According to the new growth theory, which of the following promote economic growth?
i. discoveries that bring profit ii. choices that expand human capital iii. random events that create technology change A) i and ii B) i only C) i, ii and iii D) i and iii E) ii only
The different effects of fiscal and monetary policy in an open economy with mobile capital hinges on their different effect on
A. price levels. B. interest rates. C. the money supply. D. real GDP.
The inflation rates in the 7 major industrialized countries
a) have fallen steadily since 1970 b) reached a peak in the mid-1990s c) have been historically high in all countries except the U.S. during the 1990s d) have been nearly zero since 1970, because prices have been stable e) were higher in the mid- and late 1970s than at any time since
The loss-minimizing output for the perfectly competitive firm occurs at the point at which
A) TR - MR = minimum. B) TR - TC = maximum. C) MR = MC. D) TC - ATC = maximum.