Answer the following statement(s) true (T) or false (F)
1. The use of uniform emissions standards on mobile sources generates a cost-effective solution.
2. According to a study conducted by the National Academy of Sciences, a uniform standard imposed on motor vehicles would be more cost-effective than a two-tiered standard.
3. Plug-in hybrids and hybrid vehicles are examples of partial zero-emission vehicles (PZEVs).
4. U.S. policy on mobile sources imposes more stringent controls on new vehicles, creating a bias against newer, and hence cleaner, motor vehicles.
1. False
2. False
3. True
4. True
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Brand name aspirin is chemically identical to store brand aspirin. Yet, consumers often prefer the brand name product to the store brand product. This preference is an example of
A) product differentiation. B) perfect product competition. C) oligopolistic product competition. D) price taking behavior.
Explain the concept of Ricardian equivalence
What will be an ideal response?