Describe the connections between rising income and environmental and social indicators. Which indicators improve and which worsen as national income rises?
What will be an ideal response?
Carbon dioxide emissions get worse as income rises; access to safe drinking water improves. Child mortality and child labor both decrease as national income rises. Other indicators are more mixed. Deforestation occurs more in low- and upper-middle income countries, while lower-middle countries have deforestation but less than the upper middle income group, and high-income countries both experience reforestation.
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When the U.S. placed tariffs on French wine, France placed high tariffs on U.S. chickens. This is an example of
A) deadweight losses. B) multilateral negotiations. C) bilateral trade negotiations. D) international market failures. E) a trade war.
Refer to the above figure. Suppose the economy is at E and the government uses an expansionary fiscal policy to move the aggregate demand curve to AD 2. In the end, the aggregate demand curve is still AD 1. A possible reason for this is that
A. the economy is already at full employment. B. the increased borrowing causes higher interest rates, which encourage people to save more and increase investment spending due to the extra saving. C. some of the increased government spending is not counted in GDP. D. people increase saving because they anticipate higher future taxes, resulting in a reduction in current consumption spending that offsets the increased government spending.
Which of the following would shift the aggregate demand curve to the left?
A. A depreciation in the value of the country's currency B. An increase in foreign income C. A higher future expected price level D. A decrease in exports
External effects from a transaction indicate there is a misalignment between private and social benefits or costs.
Answer the following statement true (T) or false (F)