Since the mid-1980s, Federal Reserve policies have often been described as attempting

Product differentiation means

A) making a product that has perfect substitutes. B) making a product that is entirely unique. C) the inability to set your own price. D) making a product that is slightly different from products of competing firms. E) making your demand curve horizontal.

In a market for emission permits, firms that emit over their allowed limits

A) are forced to shut down. B) are taxed by the government for the amount of emissions. C) receive a subsidy for the amount of emissions. D) pay a price of these emissions.