See Scenario 4.1. What quantity Qc will maximize Daniel's utility given the information above?
A) 0
B) 24
C) 40
D) 60
E) none of the above
C
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The fraction of people who would like to be employed, but can't find work is called the:
A. average labor productivity rate. B. Participation rate C. inflation rate. D. unemployment rate.
How does a cap-and-trade system:
a. force polluters to internalize an externality? b. lower transactions costs? c. give incentive to polluters to find new ways to reduce pollution? d. make future pollution reductions easy to implement?
Noise pollution is a serious problem. One major contributor is the recent development of very powerful amplification equipment for automobile radios. Many people complain that the windows in their home vibrate when some cars drive by. Others complain that loud car radios set off very sensitive alarms in nearby parked cars. What do we know about the drivers of cars with loud stereos?
a. b, c, and e. b. It would be very expensive for them to engage in this behavior if individuals had a right to a nonvibrating home. c. The cost of their own hearing loss is less than the benefit they receive from cranking it up. d. They realize that there are no ordinances prohibiting loud noise. e. Their private costs fall short of the social costs.
Assume that there is no way to prevent someone from using an interstate highway, regardless of whether or not she helps pay for it. This characteristic is associated with:
A. rival goods. B. complementary goods. C. capital goods. D. public goods.