(Last Word) Because there are so many sources of carbon dioxide, making monitoring difficult and costly, many economists:
A. prefer a carbon tax to cap-and-trade for reducing carbon dioxide emissions.
B. prefer cap-and-trade to a carbon tax for reducing carbon dioxide emissions.
C. believe that cap-and-trade and a carbon tax are both costly but should be implemented to
reduce carbon dioxide emissions.
D. believe that neither cap-and-trade nor carbon taxes can effectively reduce carbon dioxide
emissions.
Answer: A
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What are the five economic activities?
(A) Producing, exchanging, consuming, saving, and investing. (B) Developing, exchanging, purchasing, saving, and investing. (C) Manufacturing, trading, consuming, saving, and investing. (D) Farming, trading, purchasing, saving, and investing.
Suppose the inflation rate has risen 0.5 percent a year for the past three years. Using this experience an individual forecasts a 0.5 percent rise in the coming year's inflation rate. This is an example of:
a. traditional expectations. b. rational expectations. c. adaptive expectations. d. reflective expectations. e. deductive expectations.