Consider a situation in which a utility company emits high levels of sulfur dioxide and the company is not liable for the damages its pollution causes
According to the Coase theorem, government action is ________ to achieve an ________ amount of pollution.
A) not necessary; efficient B) necessary; efficient
C) necessary; equitable D) not necessary; equitable
A
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In the 1945 Alcoa antitrust case, the Court found ALCOA:
a. not guilty of violating the Sherman Antitrust Act because it was a good monopoly. b. did not have a good reason for having a large market share, so found it guilty. c. guilty because its firm size was a per se violation of antitrust laws. d. not guilty because it did not engage in any illegal or unfair acts. e. was no threat to industrial democracy.
The amount of unemployment varies
a. little over time and across countries. b. little over time but substantially across countries. c. substantially over time but little across countries. d. substantially over time and across countries.