"The number of species on earth is decreasing drastically and economic development is the main factor for the problem." Do you agree or disagree? Why?
What will be an ideal response?
Disagree. First, it is unclear that the number of species on earth is decreasing drastically: While estimates of the number of species dying off are between a low of one every four years to a higher of 50,000 per year, many new species are discovered every year. Also, economic development itself is not the main factor for the extinction of many species. Instead, the main reason is related to the issue of property rights as most endangered species are common property, or property without property rights.
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Which of the following is a macroeconomics question?
A) What factors determine the price of carrots? B) What determines the production of DVDs? C) What determines the inflation rate? D) What determines the wage of auto workers?
In the long run, sustained inflation is due to
A. a one-time increase in money growth. B. a continuous increase in aggregate demand. C. a continuous increase in the money growth rate. D. the rising price of oil.
Which of the following economic indicators is used by the World Bank to classify countries as industrial or emerging economies?
a. GDP b. Rate of inflation c. Net exports d. Per capita income e. Budget deficits
The level of technology, the rate of interest, expectations of future economic growth, and the rate of capacity utilization all determine
a. life cycle wealth b. investment c. permanent income d. transitory income e. dissaving