Suppose a legislature passes a law that mandates a 50% cut in toxic emissions. What type of analysis would most likely be used to determine how to implement this policy at the lowest cost?

a. Contingent valuation
b. Cost-effectiveness analysis
c. Positional analysis
d. Precautionary principle
e. Safe minimum standard

Ans: b. Cost-effectiveness analysis

Economics

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Increases in the supply of scientists and engineers can increase the level of

A. investment. B. consumption. C. government spending. D. technology.

Economics

Comparative advantage implies that you

A. can produce a good or service at a lower opportunity cost. B. can produce goods with more human resources. C. can produce more units of a good or service than another. D. can produce goods with more capital resources.

Economics