According to economist Abba Lerner (1903-1982), fiscal and monetary policy is analogous to:
A. automobile brakes.
B. a steering wheel in an automobile.
C. a string that can be pushed or pulled.
D. highway guard rails.
B. a steering wheel in an automobile.
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Factory A can reduce emissions at a cost of $400 per ton. Factory B can reduce emissions at a cost of $100 per ton. In a system in which the government issues transferable pollution right at a price of $200 per ton:
a. Factory A can profit from selling its pollution rights to Factory B. b. Neither firm can profit from selling its pollution rights to the other. c. Factory B can profit from selling its pollution rights to Factory A. d. Both firms have an incentive to sell pollution rights.
Laws that outlaw union shops and which may be passed (or not) by individual states are called
A) Smoot-Hawley laws. B) pro-scab laws. C) free-rider laws. D) right-to-work laws.