Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will the market price be?

Which of the following statements concerning pollution is correct?

A) Economic efficiency requires that pollution be completely eliminated. B) Economic efficiency dictates that the optimal amount of pollution arises at the point at which price equals private marginal cost. C) Pollution should be reduced to the point at which the marginal benefit from further reduction equals the marginal cost of further reduction. D) Pollution should be reduced to the extent necessary to return production to the production possibilities frontier.

According to 2014 data on the U.S. population, which of the following was correct?

a. Adults of prime working age (ages 25-54) had both higher labor-force participation rates and higher rates of unemployment compared to teenagers. b. Adults of prime working age (ages 25-54) had higher labor-force participation rates and lower rates of unemployment compared to teenagers. c. Adults of prime working age (ages 25-54) had both lower labor-force participation rates and lower rates of unemployment compared to teenagers. d. Adults of prime working age (ages 25-54) had lower labor-force participation rates and higher rates of unemployment compared to teenagers.