Question
Section 7 states that: “No person carrying on
any industry, operation or process shall discharge or emit any environmental pollutant in excess of such standards as may be prescribed.” Which of the following best represents the legal nature of this provision?Solution
Section 7 imposes an absolute statutory prohibition, making it a strict liability obligation: no entity may exceed prescribed pollution limits, irrespective of intention or negligence.
If the government imposes an excise duty on the production of a commodity, and the demand for that commodity is perfectly inelastic, the burden of the t...
What is the supply curve of a firm in Perfect Competition?
The two regression lines are 12X+8Y=104 and 24X+12Y=124. Find the correlation coefficient.
Which of the following is not an assumption of Keynesian Simple model?
A government recently introduced the Policy mix of Monetizing Budget deficit to revive the economy. Using the IS-LM framework, the impact on Output and ...
The process of converting securities (like shares) from physical form to electronic form is managed by a:
According to the Taylor principle, for inflation to be stable, the central bank must respond to an
increase in inflation with...
The Impossible Trinity (or Trilemma) in international finance states that a country cannot simultaneously have:
Consequences of high multicollinearity:
In a simple two-sector economy, the autonomous consumption is 200, the Marginal Propensity to Consume (MPC) is 0.75, and the autonomous investment expen...
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