In 1972, the EPA banned the pesticide DDT. How would you classify this approach to reducing the environmental contamination caused by DDT?
A. A carbon tax
B. A marketable permit system
C. Command-and-control regulation
D. A cap-and-trade system
Answer: C
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Economic decline (negative growth) is represented on a production possibilities frontier model by the production possibility frontier
A) shifting inward. B) becoming flatter. C) shifting outward. D) becoming steeper.
In the United States in 2014, the percentage of people with some form of health insurance was about
A) 10%. B) 36%. C) 55%. D) 90%.
When a firm's profit maximizing sales level is positive, its marginal revenue is ______ its marginal cost at that quantity.
A. greater than B. less than C. equal to D. less than or equal to
Discounting is the process of
a. cutting prices to get rid of surplus stocks. b. finding the present value of future dollars. c. finding the future value of present dollars. d. giving special concessions to special customers.