During the second Bush administration, environmental fines and prosecutions
a. increased rapidly.
b. declined significantly.
c. grew with the rate of inflation.
d. declined slightly from earlier levels.
b
Economics
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Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, total consumer and producer surplus will be
A) $1.50. B) $300. C) $450. D) $500. E) $600.
Economics
Which of the following is a true statement?
a. The concept of potential output might be thought of as the maximum sustainable output of the economy under normal circumstances. b. Actual output cannot exceed potential output, even during a boom. c. When the actual rate of unemployment exceeds the natural rate, the actual output of the economy will rise above its potential. d. Potential output represents the absolute maximum level of production.
Economics