Prohibiting the use of “dirty” fuels by industry is an example of
A. voluntarism.
B. direct controls.
C. taxes on emissions.
D. the permit to pollute.
Answer: B
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According to this Application, based on the analysis of the sources of growth in China and India, and assuming that nothing changes, it can be concluded that
A) there is convergence between the nations in Asia. B) China's reliance on technology for economic growth makes it less likely to keep pace with the growth rate in India. C) India's long-term growth prospects are not as strong those for China. D) the growth rate in China should significantly slow down in the near future, but the growth rate in India will continue to rapidly increase in the near and distant future.
What can be concluded from Milton Friedman and Edmund Phelps' expectations-augmented Phillips curve?
A) that there is no long run tradeoff between unemployment and inflation B) that there is a short run tradeoff between unemployment and inflation C) that there are two types of Phillips curves D) all of the above E) none of the above
Suppose the demand for macaroni is inelastic, the supply of macaroni is elastic, the demand for cigarettes is inelastic, and the supply of cigarettes is elastic. If a tax were levied on the sellers of both of these commodities, we would expect that the burden of
a. both taxes would fall more heavily on the buyers than on the sellers. b. the macaroni tax would fall more heavily on the sellers than on the buyers, and the burden of the cigarette tax would fall more heavily on the buyers than on the sellers. c. the macaroni tax would fall more heavily on the buyers than on the sellers, and the burden of the cigarette tax would fall more heavily on the sellers than on the buyers. d. both taxes would fall more heavily on the sellers than on the buyers.
The Federal Reserve CANNOT do one which one of the following?
A. Change the tax rate on profits B. Change the discount rate C. Change the required reserve ratio D. Change margin requirements