An example of the command-and-control approach to environmental policy is:
a. allowing individuals to sue freon producers if CFC emissions exceed a government-set standard.
b. allowing coal producers to buy and sell permits to allow CFC emissions.
c. placing a tax on freon to reduce its use and the corresponding CFC emissions (which contribute to the ozone hole).
d. none of these.
d
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Refer to Figure 14.1. Other things equal, a decrease in the target inflation rate is best represented as a movement from
A) point A to point B. B) point C to point B. C) point A to point C. D) point B to point C.
Jennifer is the only employee of her sole proprietorship. She is entertaining the idea of hiring an additional employee. She knows that on her own she can produce 100 units per day. Jennifer figures that Applicant A will help her produce 175 units per day whereas Applicant B will help her produce 155 units per day. Which of the following statements is most accurate?
A) Applicant B has a marginal product of 75 units. B) Applicant B has an average product of 77.5 units. C) Applicant A has a marginal product of 75 units. D) Applicant A has an average product of 87.5 units.