The U.S. Federal government limits the ability for private firms to harvest timber on much government land. This, it is argued, increases the amount of fuel for wildfires which often burn out of control and cost money and manpower to control
A) This suggests that the policy addressing one positive externality might have created another positive externality.
B) This suggests that those who harvest timber are prone to starting wildfires.
C) This suggests that the policy addressing timber harvesting created a negative externality.
D) This suggests that government policy is destined to fail.
C
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It is estimated that, on the average and taking account of skill differentials, union wages are
A) 100 percent higher than nonunion wages. B) less than nonunion wages. C) 10-25 percent higher than nonunion wages. D) 66 percent higher than nonunion wages. E) equal to nonunion wages.
When the Fed lowers the legal reserve requirement, the money supply contracts
Indicate whether the statement is true or false