The effectiveness of direct controls on pollution depends on: (i) the budgets and enthusiasm of the regulatory bodies; (ii) sufficiently strong statutory penalties.

Government regulations

A) have no impact on supply. B) only change the quantity supplied, not the supply curve. C) are generally ineffective due to lobbying by suppliers. D) can change both quantity supplied as well as the supply curve.

As a result of pure free trade in a commodity the

a. price of the commodity must be the same in all countries. b. total quantity imported will exceed the total quantity exported. c. price of the commodity will be higher in the producing country. d. price of the commodity will be lower in the producing country.