Which of the following is INCORRECT?
a. Emissions limits in PSD areas are more stringent than those in nonattainment areas
b. New Source Performance Standards are technology-based and defined by the EPA
c. Emissions limits for existing sources are more lenient than for new sources
d. Technology-based standards used to control stationary sources are applied uniformly
c. Emissions limits for existing sources are more lenient than for new sources
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When the price is less than the equilibrium price
A) there will be a shortage. B) some consumers will be willing to pay a price higher than the prevailing price. C) the price will be forced higher. D) All of the above answers are correct.
Prices of money market instruments undergo the least price fluctuations because of
A) the short terms to maturity for the securities. B) the heavy regulations in the industry. C) the price ceiling imposed by government regulators. D) the lack of competition in the market.
If the absolute price elasticity of demand is equal to 1 in the short run, then in the long run, other things being equal, the absolute price elasticity of demand will be
A) less than one. B) less than zero. C) greater than one. D) equal to zero.
The term "ceteris paribus" means that: a. everything is variable
b. all variables except those specified are constant. c. no one knows which variables will change and which will remain constant. d. what is true for the individual is not necessarily true for the whole.