RWEs Flashcards
1
Q
subsidy
A
US present, $40 billion on corn subsidies annually
2
Q
indirect taxes
A
Ph present, 30% tax on petrol
3
Q
pos consumption
A
Ph 2017, k-10 changed to k-12
4
Q
neg production
A
Ph 2016 three month ban each year on mackerel fishing
5
Q
neg consumption
A
Ph 2017, smoking ban in public areas (legislation)
6
Q
PED
A
for every 1% change in price, there will be a 1.3% change in QD.
Norway 2019 electric cars-1.3 (elastic)
7
Q
price ceiling
A
NYC 2020, maximum rent is 2800 dollars a month
8
Q
price floor
A
India 2020, floor for veggies 20% higher than market price
9
Q
PES
A
USA gasoline 1.6
