According to most economists, which one of the following would be the best public policy?
A. Require businesses to reduce pollution by a level prescribed by the government.
B. Zero tolerance for pollution.
C. Rely on private enterprise to reduce pollution as it is ultimately in its best interest.
D. Provide business firms with incentives to curb their pollution.
D. Provide business firms with incentives to curb their pollution.
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About what percentage of U.S. exports in 2012 went to Canada?
A. 40% B. 30% C. 20% D. 15%
Which of the following most closely approximates the conditions of a monopolistically competitive market?
A. The market for Grade A eggs, which is characterized by a large number of firms producing a homogeneous product. B. The restaurant industry, which is characterized by firms producing a differentiated product in a market with low entry barriers. C. Local cable television service, where a licensed supplier competes with firms offering satellite service. D. The market for jumbo aircraft, where one major domestic firm competes with one major foreign firm.