Serious environmental problems are
A. unique to industrial economies.
B. unique to Western economies.
C. unique to civilized economies (i.e., those in which people live mainly in cities).
D. experienced by centrally planned and market-based economic systems.
Answer: D
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Comparing the effect on the monetary base between an open market purchase of government securities from a bank and the same open market operation conducted with the general public, the monetary base
A) decreases by the same amount if the general public sells the securities or if a bank sells the securities. B) does not change if it is the general public that sells the securities. C) increases by a larger amount if a bank sells the securities than if the general public sells the securities. D) increases by a larger amount if the general public sells the securities than if a bank sells the securities. E) increases by the same amount if the general public sells the securities or if a bank sells the securities.
Banks can lower the cost of information production by applying one information resource to many different services. This process is called
A) economies of scale. B) asset transformation. C) economies of scope. D) asymmetric information.
Research on the effects of recessions on the real level of GDP shows that
A) recessions cause only temporary reductions in real GDP, which are offset by growth during the expansion phase. B) recessions cause large, permanent reductions in the real level of GDP. C) recessions cause both temporary and permanent declines in real GDP, but most of the decline is temporary. D) recessions cause both temporary and permanent declines in real GDP, but most of the decline is permanent.
The market supply of labor depends on the
a. number of employers b. marginal revenue product of labor c. price of the product being produced d. number of available workers