Why is it misleading to argue that emissions permits are a "license to pollute"?
Critics of emissions trading fail to understand that the number of emissions permits constrains the amount of pollution. If the government wishes to reduce pollution by 50 percent, it reduces the number of licenses accordingly. Emissions trading is no more a license to pollute than command and control or taxes. It is just an alternative, and a more efficient way of meeting a goal of lower pollution.
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Because warranties are potentially ________, low-quality goods are ________ to have warranties
A) very expensive; less likely B) inexpensive; less likely C) very expensive; more likely D) inexpensive; more likely
The ________ is the number of unemployed divided by the labor force and the ________ is the number of employed divided by the adult population
A) unemployment rate; employment rate B) unemployment rate; employment ratio C) unemployment ratio; participation rate D) discouraged worker ratio; employment rate
What are sticky wages?
a. Wages that employers will not increase b. Wages that respond to changes in demand c. Wages that do not respond to changes in demand d. Wages that do not respond to changes in supply
Ceteris paribus, if Korea increases the size of its military, then its production:
A. Possibilities curve will shift outward. B. Possibilities curve will shift inward. C. Of consumer goods will increase. D. Of consumer goods will decrease.