Regarding matters of the environment, liberal international relations theory and liberals themselves frame the issue in terms of
a. competition for resources.
b. economic or military advantage.
c. collaboration.
d. inequality of economic power.
c. collaboration.
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Firm A is a monopoly because of network effects, whereas Firm B is a natural monopoly. Which of the following statements is likely to be true in this context?
A) The average total costs of both firms decrease as they increase their output. B) The value of the product that both firms produce increases with an increase in the number of buyers. C) Firm A enjoys a monopoly status because its average total cost decreases with increase in output, whereas Firm B enjoys a monopoly status because the value of its product increases as more consumers buy it. D) Firm B enjoys a monopoly status because its average total cost decreases with increase in output, whereas Firm A enjoys a monopoly status because the value of its product increases as more consumers buy it.
Economists working at federal government agencies have estimated that the marginal social cost of carbon is about
A) $2 per ton. B) $9 per ton. C) $21 per ton. D) $47 per ton.
Agricultural explanations of the business cycle are not as important today as they were 50 to 75 years ago because today
a. agricultural production is more mechanized. b. agricultural production is a smaller portion of the total economy. c. agricultural production is greater. d. we eat less.
Double-entry bookkeeping for the balance of payments requires that:
a. the current account always equal the balance of payments. b. every transaction be recorded as a credit and a debit at the same time. c. total credits always exceed total debits. d. every transaction be recorded as either a credit or a debit. e. total debits always exceed total credits.