Which of the following provides an example of command-and-control regulation?
a. Taxing producers based on the external costs created by their pollution, thus internalizing external costs
b. Requiring firms to reduce their pollution by 50 percent, thus allowing them to emit 50 percent of their historical emissions, and allowing them to freely buy and sell allowances.
c. Requiring firms to use a particular type of pollution-control technology, such as smokestack scrubbers or catalytic converters.
d. Subsidizing firms that exceed their pollution-control targets.
c
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Unlike indifference curves, isoquants can intersect
Indicate whether the statement is true or false
In the United States, there are a number of programs that provide goods and services, such as food, medical care, and housing, to the poor. How could income standards be changed, in light of these programs, to better reflect absolute poverty? a. The income standards should not change because these programs provide goods and services, not money. b. The income standards should be increased, since
it costs money to provide these goods and services. c. The income standards should be increased, because these programs will affect the relative measure of poverty. d. The income standards should be decreased, since program recipients require less income to meet a minimum standard of living.
___________ is the study of how people behave in strategic situations.
A. Game theory B. Administered prices C. Price leadership D. Kinked demanded
Which of the following statements are true?
A) A bank's assets are its sources of funds. B) A bank's liabilities are its uses of funds. C) A bank's balance sheet shows that total assets equal total liabilities plus equity capital. D) A bank's balance sheet indicates whether or not the bank is profitable.