In the market for pollution permits, the demand for permits comes from:
A. firms that would prefer to use permits rather than incur abatement costs.
B. the Chicago Board of Trade.
C. firms with low abatement costs.
D. the Environmental Protection Agency.
Answer: A
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The major determinant of an individual's income is
a. his personality-if the coworkers and the boss like him. b. if he earns a salary or if he is paid by the hour. c. how productive he is combined with demand for what he produces. d. whether or not his family is wealthy
The aggregate demand curve of an economy _____
Fill in the blank(s) with the appropriate word(s).
Productivity growth in the service sector
a. is notoriously difficult to measure. b. is comparable to productivity growth in agriculture. c. has been slow compared with productivity growth in manufacturing. d. Both a and b are correct. e. Both a and c are correct.
If the resource prices faced by a firm rise, the result is a(n)
a. decrease in supply b. increase in supply c. decrease in demand d. increase in quantity demanded e. decrease in quantity supplied