Environmental problems in China
A) increase pressure for decentralization of power and authority from the ruling Communist party.
B) are not recognized by local Chinese interests, but get large amounts of attention from global activists.
C) are improving at a rapid pace in Chinese urban areas.
D) are generally not an issue domestically or globally.
A
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If there are five firms in an industry, each with a market share of 20 percent, the Herfindahl-Hirschman Index (HHI) of concentration is
A) 2000. B) 400. C) 100. D) 20.
There is no limit for domestic central bank intervention
Indicate whether the statement is true or false
The focus of policy in the 1990s was
A) increasing trade. B) increasing employment. C) maintaining stable exchange rates. D) holding down inflation and increasing domestic output. E) levying beggar-thy-neighbor tariffs.
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. Suppose the government assigns property rights to the residents of Playa Del
Rey, then the airlines and the residents engage in negotiations. The resulting efficient level of air travel is A. 0 units. B. 100 units. C. 120 units. D. indeterminate from the given information.