A carbon tax which is designed to reduce pollution is an example of a
A) noneffective incentive. B) command-and-control policy.
C) market-based policy. D) government administrative rule.
C
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A country exports the goods
A) for which its domestic prices are very high compared to the world prices. B) that the economy can produce the most of. C) that the economy can produce at relatively lowest opportunity cost. D) that it cannot sell domestically. E) in which it has a comparative disadvantage.
We can conclude from the table shown that Morocco has a comparative advantage in the production of tables.Labor Input to Produce Chairs and Tables MoroccoSpainChair31Table105
Answer the following statement true (T) or false (F)
All of the following statements about asymmetric information are true except
A. asymmetric information can only be solved through government intervention. B. asymmetric information creates market failures because it makes it harder for individuals to engage in transactions that would take place in the presence of perfect information. C. asymmetric information occurs when one party to a transaction has relevant information to the transaction that the other party does not have. D. asymmetric information occurs in the market for used cars and in the insurance market.
A monopoly will never operate on the ____ portion of its demand curve because an increase in price _____ total revenue and _____ total cost, thereby increasing the firm's total profit
a. inelastic; decreases; decreases b. elastic; decreases; increases c. inelastic; increases; decreases d. unit elastic; does not change; increases e. inelastic; increases; increases