Conceptually, the efficient level of carbon emissions is the level for which
A) the marginal benefit of reducing carbon emissions is maximized.
B) the marginal benefit of reducing carbon emissions is minimized and the marginal cost of reducing carbon emissions is maximized.
C) the marginal benefit of reducing carbon emissions is equal to the marginal cost of reducing carbon emissions.
D) the marginal cost of reducing carbon emissions is minimized.
C
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Assumptions that output is fixed and factor prices have adjusted to reach the level of full employment are:
a. useful for long-run analysis. b. necessary for short-run analysis. c. unrealistic to the extent that economists should not make such assumptions. d. always true and therefore useful both in the long run and short run.
An increase in government expenditure on goods and services ________ aggregate demand, shifting the aggregate demand curve ________ and potentially bringing the ________ phase of the business cycle
A) decreases; rightward; expansion B) increases; rightward; recession C) decreases; leftward; recession D) increases; rightward; expansion E) increases; leftward; recession