Which of the following is not an attempt to remedy and externality?
A. A tax per ton of sulfur dioxide pollution.
B. Government quotas for individual fisherman to limit harvesting of wild salmon.
C. Home association codes requiring home owners to maintain front yards.
D. Price controls to combat the effects of the cost disease.
Answer: D
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An inward shift of the production possibilities curve
A. represents an economic decline. B. means that the previous levels of production are now unobtainable except under unusual circumstances such as war. C. means that the economy can produce more of both goods. D. represents an economic decline AND means that the previous levels of production are now unobtainable except under unusual circumstances such as war.
Relative Importance
What will be an ideal response?
Per Capita Real GDP
What will be an ideal response?
The Bank of Japan is Japan's central bank. As part of its duties, the Bank of Japan would
A) provide banking services to Japan's citizens and firms. B) provide banking services to foreigners. C) control the quantity of money in circulation in Japan. D) change tax rates.