Individual transferable quotas (ITQs):
A. promote efficiency and limit catches.
B. promote efficiency in production but still lead to overfishing.
C. limit catches but encourage production cost increases that are inefficient.
D. have failed to limit catches or promote efficiency.
Answer: A
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What is the difference between a public franchise and a public enterprise?
A) Both refer to a service provided directly to consumers through the government, but "public franchise" is a term more commonly used in the United States while "public enterprise" is more commonly used in European countries. B) A public franchise grants a firm the right to be the sole legal provider of a good or service. A public enterprise refers to a service that is provided directly to consumers through the government. C) A public enterprise is owned by the public through its holdings of shares of stock in the enterprise. A public franchise is a firm owned by the government. D) A public enterprise grants a firm the right to be the sole legal provider of a good or service. A public franchise refers to a service that is provided directly to consumers through the government.
The banking industry is heavily regulated because
A. banking is a monopoly industry. B. most banks are owned by government agencies. C. bankers do what is best for their stockholders, not necessarily what is best for the economy. D. All of these responses are correct.
The Edgeworth box:
A. is a diagram that shows two consumers' opportunities and choices in a single figure. B. can be used to illustrate equilibrium in a simple economy with no exchange. C. was first introduced by Paul Samuelson. D. shows the most worthy outcomes at the edges.
The television network newscaster reports that the national inflation rate the past year equaled 4 percent. This report would be of particular interest to a ____
a. microeconomist. b. normative economist. c. macroeconomist. d. Ceteris paribus. e. social science economist.