Statistical studies suggest that the cost of direct controls for any target level of pollution is
A. much higher than the cost of taxes on emissions.
B. about the same as the cost of taxes on emissions.
C. lower than the cost of taxes on emissions.
D. impossible to compare to the cost of taxes on emissions.
Answer: A
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Dan sells newspapers. Dan says that a 4 percent increase in the price of a newspaper will decrease the quantity of newspapers demanded by 8 percent. According to Dan, the demand for newspapers is ________
A) inelastic B) unit elastic C) perfectly elastic D) elastic
For a natural monopoly to exist
A) a firm must continually buy up its rivals. B) a firm must have a government-imposed barrier. C) a firm's long-run average cost curve must exhibit diseconomies of scale beyond the economically efficient output level. D) a firm's long-run average cost curve must exhibit economies of scale throughout the relevant range of market demand.
The key reason that the bursting of the tech-stock bubble of the late 1990s had a mild impact on the macroeconomy is ________
A) rapid intervention by the central bank averted economic catastrophe B) the increase in tech-stock prices was driven by the economic fundamental of technological progress C) the technology sector is a rather small portion of the aggregate economy D) tech-stock prices had not been much influenced by credit availability
The most progressive tax of the major taxes employed in the United States _____
a. are sales taxes b. are excise taxes c. are income taxes d. are property taxes