A new pollution law requires businesses to pay for inspections of their plants by independent pollution-monitoring firms. What effect is this likely to have?
A) Increase productivity
B) Increase the capital stock
C) Reduce productivity
D) Increase the demand for labor in those firms
C
Economics
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In long-run macroeconomic equilibrium
A) real GDP equals potential GDP. B) the price level is fixed and aggregate demand determines real GDP. C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand and long-run aggregate supply is irrelevant. D) real GDP is less than potential GDP.
Economics
This type of firm would likely operate as a monopoly
A) one of many U.S. wheat farmers. B) one of the few U.S. auto makers. C) AT&T long distance phone service. D) the local water company.
Economics