A uniform-abatement policy is:
A. inefficient because it does not exploit the differences in abatement costs among firms.
B. efficient because an equal amount of pollution is assigned to each firm.
C. inefficient because it incurs relatively low compliance costs.
D. efficient because it helps firms lower their production costs.
Answer: A
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The narrowest definition of the money supply is
A) M1. B) M2. C) the difference between M2 and M1. D) the sum of M1 and M2.
The major flaw of the linear probability model is that
A) the actuals can only be 0 and 1, but the predicted are almost always different from that. B) the regression R2 cannot be used as a measure of fit. C) people do not always make clear-cut decisions. D) the predicted values can lie above 1 and below 0.
The U.S. financed WWI primarily by:
a. increasing personal income taxes. b. increasing corporate taxes and luxury taxes. c. borrowing from the public. d. printing new money.
Exhibit 1A-8 Straight line relationship
For the relationship shown in Exhibit 1A-8, suppose the price of hamburgers increases and hamburgers are a substitute for pizza. What change would occur on the graph?
A. There will be a movement upward and to the left along the curve. B. There will be a movement downward and to the right along the curve. C. The curve will shift. D. The slope of the curve will become steeper.