If the price of chicken falls, then in the market for beef
A) the demand curve for beef shifts rightward.
B) the demand curve for beef shifts leftward.
C) there is a movement downward along the demand curve for beef.
D) there is a movement upward along the demand curve for beef.
B
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A government passes a new law allowing only 1,000 tons of pollution per day to be generated and simultaneously sells 1,000 transferable rights to emit one ton each of pollution per day. Which of the following is true?
a. The pollution will be created by those least willing and able to pay the damages. b. The pollution will be created by those most willing and able to pay for the right to pollute. c. The funds collected by the government will be enough to compensate any individuals harmed by the pollution. d. Pollution will increase from zero to 1,000 units per day. e. There will be no incentive for polluters to try to sneak emissions past government monitoring devices.
The abbreviation GATT stands for:
a. General Analysis of Taxes and Transfers. b. General Agreement on Tariffs and Trade. c. Government Agency for Trade and Transportation. d. Government Agency for Treaties and Taxes. e. General Agreement on Terms of Trade.