The significantly high rates of inflation in the 1970s occurred, in part,
a. because of increased petroleum prices.
b. due to high unemployment.
c. despite falling gasoline prices.
d. due to restrictive monetary policies.
a
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In the game in Scenario 13.5,
A) there is one equilibrium: for both to expand West. B) there is one equilibrium: for both to expand South. C) there are two equilibria: either can expand in the West, and the other expands in the South. D) there is only a mixed strategies equilibrium. E) all four outcomes are equilibria.
(Last Word) Because there are so many sources of carbon dioxide, making monitoring difficult and costly, many economists:
A. prefer a carbon tax to cap-and-trade for reducing carbon dioxide emissions. B. prefer cap-and-trade to a carbon tax for reducing carbon dioxide emissions. C. believe that cap-and-trade and a carbon tax are both costly but should be implemented to reduce carbon dioxide emissions. D. believe that neither cap-and-trade nor carbon taxes can effectively reduce carbon dioxide emissions.