Consider a situation in which a utility company emits high levels of sulfur dioxide and the company is not liable for the damages its pollution causes.
According to the Coase theorem, government action is ________ to achieve an ________ amount of pollution.
A) not necessary; efficient B) necessary; efficient
C) necessary; equitable D) not necessary; equitable
Question 2
Which of the following statements is true?
A) Most of the leading exporting countries are large, high-income countries.
B) All sectors of the U.S. economy are affected equally by international trade.
C) Each year China exports about 50 percent of its wheat crop and 40 percent of its rice crop.
D) Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs.
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High school science classes are required to use deductive logic