Economists generally prefer greater effort made to force internalization of externalities through taxes rather than using alternative approaches, such as establishing pollution standards
a. True
b. False
Indicate whether the statement is true or false
True
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A widget costs $1000 in the US and CAD$1200 in Canada. The current exchange rate is 1USD=1.09CAD. At this rate,
a. The good costs more in the US b. The good costs more in Canada c. The good costs the same across the two countries d. None of the above
If the supply curve is more inelastic than the demand curve, then:
A. the sellers will bear a greater tax incidence than the buyers. B. the sellers will bear a smaller tax incidence than the buyers. C. the sellers will bear an equal tax incidence as the buyers. D. Any of these could be true.
What are the limitations to government’s role in the economy?
Please provide the best answer for the statement.
A fishery collapse occurs when the:
A. Fishery goes out of business B. Fishery is taken over by a government agency C. Fishery's population is harvested at a higher rate than it reproduces D. Fishery's population reproduces at a higher rate than it's harvested