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16 Cards in this Set
- Front
- Back
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indirect tax on demerit good |
Norway tobacco tax (2017) Cigarettes - NOK 2.55 per item |
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Subsidies |
Norway tax break on electric cars (2014) total of 16 910 euro per vehicle (2017) 37% of cars on the road in Norway are electric. and increase from 29% in 2016. |
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price control |
- only effective measures on extremely short-term basis. Over the long term, price controls lead to problems such as shortages, rationing, deterioration of product quality and black markets that arise to supply the price-controlled goods
- the United States is the price controls set on gasoline established during the Nixon administration, which eventually led to major shortages in supply and long, slow lines at gas pumps. |
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Perfect competition |
Agriculture |
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Monopoly |
- Providers of water, natural gas, telecommunications, and electricity are usually granted exclusive rights to service cities through local governments
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Monopolistic competition |
The restaurant business |
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Oligopoly |
- The auto industry with the leading auto manufacturers in the United States being Ford, GMC and Chrysler.
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Price discrimination |
The travel industry: Travel products and services are marketed to specific social segments. Prices fluctuate based on time of travel (time of day, day of the week, time of year). - Second degree - the price of the good or service varies according to quantity demanded. - Third degree - the price of the good or service varies by attributes such as location, age, sex, and economic status. |
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Negative externality of production |
Burning fossil fuels - release nitrogen oxides into the atmosphere, which contribute to the formation of smog and acid rain. Major sources of nitrogen oxide emissions are coal-fired power plants. - Threatens sustainability |
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Negative externality of consumption |
Food miles purchasing food that is not in season In 2005, the import of fruits, nuts, and vegetables into California byairplane released more than 70,000 tons of CO2, (www.nrdc.org) |
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Common access resources tragedy of the commons |
Fishing grounds
- over-consumption, degradation and depletion |
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Cap and trade systems |
-Verified emissions of greenhouse gases from stationary installations amounted to 1800 million tonnes of CO2-equivalent in 2015. These emissions were about 0.37% below the 2014 level
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Household indebtness |
Total, % of net disposable income, 2015 - Denmark had the largest with 292 % of net disposable income |
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Fiscal policy |
Expansionary: increased government spending --> American Recovery and Reinvestment Act of 2009. during the Great Recession, totaled $831 billion. Most of this spending targeted infrastructure, education and extension of unemployment benefits. |
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monetary policy |
f |
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supply side policies |
f |
