Output in the long run is determined by which of the two following factors when an economy operates at full employment?
A) capital and supply B) capital and labor
C) the "real" GDP and purchases D) imports and exports
B
Economics
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Oligopoly: a. Does not meet the condition for allocative efficiency. b. Does not meet the condition for productive efficiency. c. May lead to greater technological progress
d. a. and b. are true, but not c.
Economics
One World View article titled "Paying to Pollute" reports that the price of a marketable pollution permit in Europe for a ton of carbon dioxide is about $32. The principal advantage of pollution permits is to
A. Eliminate social costs. B. Increase government involvement in pollution control. C. Reduce pollution to zero. D. Reduce the costs of pollution control.
Economics