Simple measures such as ________________ can help overcome the problem of using up common resources.
a. laws regulating or banning usage
b. cap-and-trade emissions regulations
c. private property
d. explaining the tragedy of the commons
a. laws regulating or banning usage
Economists typically advocate simple devices like government-issued fishing licenses, harvest limits, and shorter hunting and fishing seasons. When the population of a species drops to critically low numbers, governments have even banned the harvest until biologists determine that the population has returned to sustainable levels.
You might also like to view...
Suppose that real GDP grows by 3 percent a year, the quantity of money grows 6 percent a year, and velocity grows by 1 percent. In the long run, the inflation rate equals
A) 12 percent. B) 9 percent. C) 10 percent. D) 4 percent. E) 5 percent.
Refer to Figure 13-1. The marginal revenue from the increase in price from P0 to P1 equals
A) the area (A - D). B) the area (B + D - A). C) the area (C - B). D) the area A.