Voluntary agreements about cleaning up pollution attempt to
A) internalize externalities.
B) internalize private costs.
C) externalize social costs.
D) externalize private costs.
A
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In the above figure, in order to achieve efficiency, a tax of ________ per unit is needed
A) $3 B) $6 C) $0 D) $2
Extremely large budget deficits may lead to
a. low inflation. b. low employment. c. high unemployment. d. high inflation.
"People are at war with themselves. Part of them says that they want to quit smoking, but another part says they need a cigarette right now. Or part of them says they want to be healthy, and another part says they need to satisfy their cravings for fatty food and sweets." These statements are suggesting that:
A. people have difficulties with self-control. B. needs should be taken seriously, but wants may be frivolous. C. sometimes inalienable rights are more important than people's desires. D. fairness should be considered in evaluating outcomes.
Which is a barrier to entry?
A. Profit maximization B. Patents C. Revenue maximization D. Elastic product demand