The EU Emission Trading System created a market for
A. crude oil.
B. wind energy.
C. devices that lower the global temperature.
D. permits to emit greenhouse gases.
Answer: D
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The aggregate demand and aggregate supply curve intersect
a. at potential GDP. b. below potential GDP. c. above potential GDP. d. at a point which may or may not be equal to potential GDP.
A typical American worker covered by unemployment insurance receives
a. 50 percent of his former wages for 26 weeks. b. 50 percent of his former wages for 52 weeks. c. 100 percent of his former wages for 26 weeks. d. 100 percent of his former wages for 52 weeks.
As John's income has increased, he has purchased less instant noodles. Instant noodles are
A) a normal good for John. B) an inferior good for John. C) not following the law of demand. D) not scarce for John.
Economists use the word investment to refer to the portion of income that is:
A. placed in an individual's savings account. B. spent on productive inputs, such as factories, machinery, and inventories. C. not immediately spent on consumption of goods and services. D. in any interest-bearing account.