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ENVR210Exam1-Fall2022 Flashcards | StudBud

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The Khan Academy video you watched explains the law of supply as follows:

1) Which of the following would increase in response to an increase in the price of ironing boards?

ENVR210Exam1-Fall2022

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Answers

1
1) Which of the following would increase in response to an increase in the price of ironing boards?
None of the above is correct.
the equilibrium quantity of irons
the quantity of irons demanded at each possible price of irons
the equilibrium price of irons
2
The Khan Academy video you watched explains the law of supply as follows:
As the price of an input increases, the supply of a good will increase.
As the price increases, producers will supply more at every price
The higher the price, the less incentive to produce more of a good.
The higher the price, the more incentive to produce more of a good.
3
According to your text, the design of cost-effective polies (or economic incentives) is not often given the emphasis it
these policies can often be ineffective.
the study is very complicated and often wrong.
command and control policy is the use of standards combined with penalties
t is assumed that any policy is better than nothing.
4
According your text, the reason why environmental policies have been the subject of perverse incentives is because:
Legislators don’t understand the basics of economics
Legislators have tried to legislate results directly
People’s decisions are hard to predict.
The supply and demand for environmental goods can never be known.