When studying pollution and the environment, economists
A) have no role to play.
B) concentrate on the physical aspects of the environment.
C) emphasize costs and benefits.
D) attempt to reduce pollution at all costs.
E) think pollution is good if it occurs when production takes place.
C
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The additional output produced by adding one more unit of an input is the:
A. marginal product. B. average product. C. total production. D. slope of the marginal product curve.
All of the following are objectives of the Federal Reserve system, except
A. to furnish an elastic currency. B. to conduct monetary policy. C. to accept deposits from individuals. D. to serve as a lender of last resort to commercial banks and thrift institutions.
Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect the total revenues the restaurant earns to:
A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.
The majority of people living in colonial America in 1790 were of African origins
Indicate whether the statement is true or false