Which of the following statements is not correct?
a. Patents help internalize the externalities associated with technological advances.
b. Economists typically prefer regulations to corrective taxes because regulations provide more incentives for firms to seek continued reductions in pollution.
c. Allowing firms to trade pollution permits will lower the total cost of reducing pollution.
d. A big impediment to implementing the Coase theorem in many cases is high transactions costs.
b
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the Euro ________ against the U.S. dollar, the Japanese yen ________ against the U.S
dollar and the Canadian dollar ________ against the U.S. dollar A) depreciated, depreciated, depreciated B) appreciated, depreciated, appreciated C) appreciated, appreciated, appreciated D) depreciated, depreciated, appreciated
An increase in the marginal tax rate, with the average tax rate held constant, will
A) increase the amount of labor supplied at any real wage. B) not affect the amount of labor supplied at any real wage. C) decrease the amount of labor supplied at any real wage. D) increase the amount of labor supplied at any real wage if the average tax rate is above the marginal tax rate, but decrease the amount of labor supplied at any real wage if the average tax rate is below the marginal tax rate.