System in which an agency such as a government determines everyone's share.

A tradable emissions permit program is efficient because the cap protects the environment while: a. generating substantial revenues for the government

b. keeping compliance and administration costs relatively low. c. while requiring the same response by each polluter. d. none of above

What is the effect when there is an increase in the European inflation rate relative to the U.S. interest rate?

a. Europeans buy fewer dollars, shifting S1 to S2.
b. U.S. consumers buy more European goods, shifting D1 to D2.
c. Europeans supply euros to buy more dollars, shifting S1 to S2.
d. U.S. consumers demand more euros, shifting S1 to S2.