What is the biggest problem of using government actions such as taxes and pollution charges to control external costs?
A) insufficient legal power to enforce the controls
B) obtaining enough data to determine how much the tax or pollution charge will be
C) In some situations, there is no known way to control the external costs.
D) political lobbying and voter disagreement
E) The Coase theorem points out that taxes and pollution charges work only in the short run and not in the long run.
B
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In the figure above, what is Gap's excess capacity?
A) 32 jackets per day B) zero C) 4 jackets per day D) 132 jackets per day
In the figure above, in the market for low-skilled labor, the equilibrium wage rate is
A) $16. B) $8. C) $20. D) $28.
Under the Bretton Woods system, the World Trade Organization (WTO) provided foreign currency loans to central banks and approved adjustments to the agreed upon fixed exchange rates
Indicate whether the statement is true or false
Refer to Table 19-18. What is nominal GDP in 2016 when 2011 is the base year?
A) $28,885 B) $11,790 C) $11,200 D) $10,275