Answer the following statement(s) true (T) or false (F)
1. China’s acid rain problem is relatively minor because it is among the lowest consumers of coal in the world.
2. Stationary source emissions are controlled primarily through the use of technology-based standards.
3. Emissions limits applicable to new and modified stationary sources are known as New Source Performance Standards (NSPS).
4. Emissions limits used for nonattainment areas are more stringent than those used for PSD areas.
5. Technology-based standards used to control new sources are more lenient than those used to control existing stationary sources.
1. False
2. True
3. True
4. False
5. False
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A new technology is discovered which results in all new cars producing 50 percent less pollution. Which of the following is true?
A) Real GDP increases because the air is cleaner, but nominal GDP does not change since air is free. B) GDP will increase to reflect the fact that the air we breathe is cleaner. C) GDP will increase if there is an increase in the production cost and price of the car. D) GDP increases anytime pollution is reduced. E) GDP will decrease.
Long-run market supply curves are downward sloping if
A) firms are identical. B) the number of firms is restricted in the long run. C) input prices fall as the industry expands. D) All of the above.