Bans or quotas that limit the use of common resources are straightforward public-policy approaches to solving the problem of overuse if:
A. the community agrees to aid in its enforcement.
B. the community affected participates in setting the punishments for breaking the policy.
C. countries have the resources to enforce them.
D. None of these statements is true.
Answer: C
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If there is an increase in expected future income, then
A) the aggregate demand curve shifts rightward. B) the aggregate demand curve shifts leftward. C) there is an upward movement along the aggregate demand curve. D) there is a downward movement along the aggregate demand curve. E) the aggregate demand curve becomes steeper.
Why is it that the industry demand curve slopes downward when the demand curves faced by individual firms in perfectly competitive markets are horizontal?
What will be an ideal response?