The average temperature is supposed to rise
A. 3-5 degrees in the next 10 years.
B. 3-5 degrees F in the next 100 years.
C. 15 degrees F in the next 100 years.
D. 1 degree F in the next 100 years.
Answer: B
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Figure 4.3 illustrates the demand for tacos. An increase in the demand for tacos is represented by the movement from
A) point a to point b. B) point c to point b. C) D2 to D1. D) D0 to D1.
According to the Coase theorem, private markets will solve externality problems and allocate resources efficiently as long as
a. the externalities that are present are positive, not negative. b. government assigns property rights to the harmed party. c. private parties can bargain with sufficiently low transaction costs. d. businesses determine an appropriate level of production.
Suppose Japanese-based Toshiba Corporation builds and operates a new computer factory in the United States. Future production from such an investment will
a. increase U.S. GNP more than it increases U.S. GDP. b. increase U.S. GDP more than it increases U.S. GNP. c. have no affect on U.S. GNP, but will increase U.S. GDP. d. have no affect on U.S. GNP or GDP.
The most fundamental concept in economics is that
What will be an ideal response?