A command-and-control policy:
A. usually does not result in the use of the most efficient pollution abatement technology.
B. does not affect the production costs of firms.
C. usually finds the most efficient pollution abatement technology.
D. increases the incentive for firms to develop efficient abatement technologies.
Answer: A
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Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental cost of producing the last 400 t-shirts?
A) operating cost B) marginal cost C) explicit cost D) Any of the above terms are correct.
In the two-period model with asymmetric information, a one-unit increase in the real rate of interest on bank deposits
A) causes the real loan interest rate to increase by more than one unit. B) causes the real loan interest rate to increase by less than one unit. C) cause the real loan interest rate to decrease by less than one unit. D) causes the real loan interest rate to decrease by more than one unit.