Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 8.W, Problem 5QE
To determine

The distributional consequences of a price support system.

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The terms spillover or externality refer to__A) black-market economic activity.B) the impact on markets of imported goods.c) the cost or benefit of a market activity borne by a third party.D) the inequitable distribution of income.
If the primary objective of government programs in each of these areas is the alleviation of some market failure, how might they be better designed?a)Farm price support; b) Oil import quotas; c) Special tax provisions for energy industries
If the government implements a cap-and-trade system to reduce pollution in a particular industry, then the:     supply curve shifts to the left.     supply curve shifts to the right.     demand curve shifts to the left.     demand curve shifts to the right.     supply curve and the demand curve shift to the left.

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