Tennessee emits sulfur dioxide that flows into North Carolina. In meeting sulfur emissions regulations, the Tennessee Valley Authority (TVA), which produces electricity, buys sulfur emission permits from Wyoming. The resulting hot spot problem is:
a. The citizens of Wyoming will experience higher sulfur emissions as a result of the emissions trading program.
b. The citizens of Wyoming will experience lower sulfur emissions as a result of the emissions trading program.
c. The citizens of Tennessee will pay more to reduce sulfur emissions than if the government used a command-and-control approach.
d. The citizens of North Carolina will suffer higher emissions as a result of the emissions trading program.
d
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Which of the following individuals is the best example of a structurally unemployed worker?
A) a recent college graduate who has entered the labor force B) an individual who has been laid off from his job because of a business cycle recession C) an automobile worker who has lost her job because of an increase in automobile imports and does not have the skills currently needed by businesses D) an individual who quits one job in the hope of finding a better job
Corporations obtain funds when their previously issued stock is traded
a. True b. False Indicate whether the statement is true or false
For which of the following does the HeckscherOhlin model offer an explanation?
I. gains from trade II. the pattern of trade. III. the effects of international trade on the returns to mobile resources. a. I b. I and II c. I and III d. I, II, and III
The assumption of rationality implies that market participants:
a. always choose the option with the highest gross benefit. b. assess expected benefits and expected costs. c. do not make decisions under uncertainty. d. do not care about benefits or costs accruing in the future.