The Endangered Species Act is an attempt to
A) protect endangered species against greedy loggers, farmers, and business people.
B) protect endangered species from the overzealousness of many environmentalists.
C) protect species endangered because there are no private property rights on them.
D) prevent some people from earning a good living.
Answer: C
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As depicted in the circular flow diagram, firms
A) supply the resources that households demand in factor markets. B) demand the goods and services that households supply in product markets. C) demand the resources that households supply in product markets. D) supply the goods and services that households demand in product markets.
Refer to Table 1-2. What is Thuy Anh's marginal cost if she decides to stay open for an extra three hours instead of two hours?
A) $0 B) $16 C) $25 D) $32 E) $45
If a government regulation states that fluorocarbon emissions should be abated by 75 percent but the optimal level of pollution abatement is 85 percent, which of the following must be true?
a. The free market will not reduce pollution by less than 85 percent. b. The free market will accomplish 85 percent abatement, but it will be inefficient. c. If only 75 percent of the pollution is abated, the society will be better off than if 85 percent had been abated. d. If only 75 percent of the pollution is abated, the society will be worse off than if 85 percent had been abated. e. If 75 percent of the pollution is abated, then in the next period the government should set the abatement level at 95 percent.
If the economy is in an inflationary boom, the Fed would most likely
a. increase bank reserves by raising the discount rate. b. increase bank reserves by buying government securities c. decrease bank reserves by lowering the discount rate. d. decrease bank reserves by selling government securities. e. decrease bank reserves by lowering the legal reserve requirement.