When comparing a permit trading system to the use of a pollution charge
a. a permit trading system requires more government intervention because the government must determine the permit price
b. a permit trading system is inflexible because the number of permits cannot be adjusted
c. a pollution charge generates revenue for the government on all units of pollution not abated
d. pollution charges might create pollution hot spots
c. a pollution charge generates revenue for the government on all units of pollution not abated
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Under perfect competition, regarding short-run profit, a firm may find itself losing money. This is true because:
a. the firm was unable to pick the output that maximized profit b. the market conditions make the highest possible profit a negative number c. the demand for its product is weak or its costs are high d. both b and c
In his book Losing Ground, _________ argued that between 1968 and 1980 government antipoverty spending quadrupled, but the poverty rate remained the same.
Fill in the blank(s) with the appropriate word(s).