A report on the dangers of cholesterol would likely shift the demand curve for beef downward and to the left
a. True
b. False
Indicate whether the statement is true or false
True
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Answer the following statement(s) true (T) or false (F)
1. The major categories of market instruments are: pollution charges, deposit/refund systems, subsidies, and pollution permit trading systems. 2. A payment or tax concession aimed at lowering the cost of abating is called a pollution charge. 3. Because polluters ignore the MEC of environmental damage linked to the production of a good, too few resources are allocated to producing that good. 4. A pollution charge follows the “polluter-pays principle.” 5. If production of a good generates an environmental negative externality, the effect of that externality is captured by the MEC of production.
The price of a good will fall when:
a. there is a shortage of the good. b. there is a surplus of the good. c. demand for the good increases. d. the supply of the good decreases.
In an economy with a fixed exchange rate, an increased demand for foreign goods would increase the supply of local currency, and the government would have to buy:
A. foreign currency in the foreign exchange market to prevent the domestic currency from depreciating. B. local currency in the foreign-exchange market to prevent the currency from depreciating. C. local currency in the foreign-exchange market to prevent the currency from appreciating. D. foreign currency in the foreign exchange market to prevent the domestic currency from appreciating.
Because of NAFTA, the U.S. shifts some of its imports from Europe to Mexico (a member of NAFTA). This is an example of
A) trade deflection. B) trade diversion. C) protectionism. D) rules of origin.