Tradable allowances are like quotas in that they both:
A. are efficient.
B. reduce the quantity bought and sold to the efficient level.
C. maximize surplus.
D. All of these statements are true.
Answer: B
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Both the value of hamburgers sold by a restaurant and the value of the beef it used to make these hamburgers are included in GDP
a. True b. False Indicate whether the statement is true or false
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
If planned investment falls as the interest rate rises, there will be no crowding-out effect.
a. true b. false
When a nation starts importing a good or service, domestic employment in that industry
A) decreases. B) stays the same. C) increases. D) might change, but more information about what else the country imports is needed to determine if employment increases, decreases, or does not change. E) might change, but more information about what the country exports is needed to determine if employment increases, decreases, or does not change.