Since almost all forms of transportation produce some type of pollution,
a. the government should ban all transportation.
b. the government should ban all pollution.
c. society has to weigh the cost and benefits when deciding how much pollution to allow.
d. refrain from intervening because the market can best solve this problem.
c
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A black market
A) is legal only when it is associated with government price ceilings. B) is defined as the deadweight loss associated with taxes. C) benefits no one. D) is a potential outcome of a price ceiling. E) is always legal.
While you were an intern you bought 5 packages of hot dogs a month. After acquiring a full-time job with a considerably higher salary, you stopped purchasing hot dogs. For you, hot dogs are a
a. Complementary good b. Normal good c. Inferior good d. Substitute good