An increase in the number of fast-food restaurants
A) raises the price of fast-food meals.
B) increases the demand for fast-food meals.
C) increases the supply of fast-food meals.
D) increases the demand for substitutes for fast-food meals.
C
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Transferable permits allow emission reduction to be achieved
A) without any impact on the industrial sector, just as a standard would. B) without any impact on the industrial sector, just as fees would. C) at the lowest possible cost. D) with firms monitoring each other, rather than having the government do the monitoring. E) Both C and D are true.
The opportunity cost of holding money increases when: a. the interest rate rises
b. the interest rate falls. c. the price level falls. d. nominal GDP rises. e. nominal GDP falls.
Which one of the following statements is false?
a. Global warming and ocean pollution are examples of global commons issues b. Solving problems with global commons usually requires international cooperation c. Problems with the global commons are becoming more prevalent as human economic activity increases d. Problems with global commons occur because countries view their global environmental impacts as externalities e. Solving problems involving global commons is not possible because of free rider effects
Suppose the market supply for good X is given by QXS = -100 + 5PX. If the equilibrium price of X is $100 per unit then producer surplus is
A. $1,600. B. $16,000. C. $400. D. none of the statements associated with this question are correct.