The purpose of an effluent fee imposed on a firm is
A) to increase output of its product by increasing the resources allocated to production.
B) to increase output of its product by reducing the resources allocated to production.
C) to reduce output by increasing production costs thereby reducing resources used.
D) none of the above
Answer: C
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If Sam does not have a job and is NOT currently looking for work but has looked in the past, he is considered
A) unemployed. B) not in the labor force. C) unemployed and in the labor force. D) unemployed and not in the labor force.
There are three goods you are interested in purchasing, X, Y and Z. You notice that the price of Z has fallen. Given that the cross price elasticity between Z and Y is ?1.5; the cross price elasticity between Y and X is 3.0, and the cross price elasticity between Z and X is 0.50. It would make sense that:
A. Z and X are complements; Y and X are substitutes. B. Y and X are substitutes; Y is complementary to Z. C. X and Z are unrelated; Y is complementary to X. D. X and Z are complements; Y and Z are substitutes.