Real-world applications of deposit-refund systems include
a. programs implemented through state bottle bills
b. initiatives aimed at proper disposal of lead-acid batteries
c. programs that create incentives to return scrapped vehicles
d. all of the above
e. none of the above
d. all of the above
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Which of the following is an important side effect of government licensing and other grants of monopoly power?
a. The number of options available to consumers is increased. b. Competition is enhanced. c. Firms will produce more efficiently. d. Rent-seeking is encouraged.
Laura says that the present value of $700 to be received one year from today if the interest rate is 6 percent is less than the present value of $700 to be received two years from today if the interest rate is 3 percent. Cassie says that $700 saved for one year at 6 percent interest has a smaller future value than $700 saved for two years at 3 percent interest
a. Both Laura and Cassie are correct. b. Both Laura and Cassie are incorrect. c. Only Laura is correct. d. Only Cassie is correct.