The hot spot problem is:
a. the U.S. obtains the majority of its oil supplies from politically unfriendly countries.
b. some air pollutants such as sulfur dioxide have a greater effect nearby than further away.
c. some air pollutants such as carbon dioxide have an equal effect nearby and further away.
d. nuclear plants heat up nearby water, causing a decline in the native fish population.
b
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Economic analysis assumes that
A) individuals act only out of selfish motives. B) people are basically altruistic, and their actions are, therefore, impossible to predict. C) changes in the personal benefits and costs associated with a choice will exert a predictable influence on human behavior. D) although individuals are at times selfish and at times altruistic, only their selfish actions may be predicted.
When an employer that controls the demand for labor opposes a union that controls the supply of labor, it is called a ________________.
Fill in the blank(s) with the appropriate word(s).
According to supply-side economists,
A. high tax rates discourage productive market exchanges because it pays for you to work less at your regular job and more at household tasks. B. high marginal tax rates encourage additional work to make up for the lost income due to the high taxes. C. people are rarely confronted with work-leisure decisions. D. when operating at the upper portion of the Laffer curve, tax cuts result in tax revenue decreases.
Increases in aggregate demand are likely to create
a) deflation during recessions b) inflation when the output gap is quite negative c) higher output when the output gap is negative, and inflation when output is at capacity d) reductions in output if the output gap is already positive e) both inflation and recession