In Japan, recycling is prevalent and landfill use is small relative to the United States because
a. the Japanese are more conscientious
b. there is no externality problem there
c. land is relatively more scarce in Japan
d. the Japanese have better recycling technology
e. littering is illegal there
C
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The president of Suldinia, a developing country, proposes that his country needs to help domestic firms by reducing trade restrictions
a. These are outward-oriented policies and most economists believe they would have beneficial effects on growth in Suldinia. b. These are outward-oriented policies and most economists believe they would have adverse effects on growth in Suldinia. c. These are inward-oriented policies and most economists believe they would have beneficial effects on growth in Suldinia. d. These are inward-oriented policies and most economists believe they would have adverse effects on growth in Suldinia.
A firm will continue to produce additional output, as long as marginal revenue is greater than marginal cost.
a. true b. false
Refer to the above figure. How do you describe what is happening as the economy moves from point A to point C?
A. Resources are becoming unemployed. B. Land that was once used to graze sheep is now being used to grow wheat. C. The economy has acquired new resources that are well suited for producing bread. D. The technology for growing wheat has improved.
Assume the total product of two workers is 130 and the total product of three workers is 150. The average product of three workers is ________, and the marginal product of the third worker is ________.
A. 40; 10 B. 120; 100 C. 13.33; 6.67 D. 50; 20