Foreign aid that flows from one country to another is called multilateral aid
a. True
b. False
Indicate whether the statement is true or false
False
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If the economy falls into a recession, automatic stabilizers will cause
A. tax receipts to rise and government spending to fall. B. tax receipts to fall and government spending to rise. C. both tax receipts and government spending to rise. D. both tax receipts and government spending to fall.
For a perfectly competitive firm, when MC is less than MR
A) the producer has an incentive to expand output. B) the producer has an incentive to decrease output. C) the producer has no incentive to change production. D) economic profits must be positive.
Which of the following statements is true about the demand for and/or the supply of natural resources?
a. The supply curve for natural resources is more elastic in the long run than in the short run. b. The elasticity of demand for electricity, natural gas, and gasoline equals approximately 0.1 in both the short run and the long run. c. Natural resources are demanded by consumers and producers in steadily growing amounts, so future shortages are inevitable. d. The supply of many natural resources is finite; thus the long-run elasticity of supply must be zero.
The ability of natural environments to absorb wastes
a. is called the sponge function. b. is abused by excessive pollution. c. imposes negative externalities on wildlife. d. is replenished by flow pollutants. e. All of the above.