According to the consumption function, when income rises, ___________________.
Fill in the blank(s) with the appropriate word(s).
consumption rises; but not as quickly
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A decrease in the money supply
a. lowers the interest rate, causing a decrease in investment and a decrease in GDP. b. lowers the interest rate, causing a decrease in investment and an increase in GDP. c. raises the interest rate, causing an increase in investment and a decrease in GDP. d. raises the interest rate, causing an increase in investment and an increase in GDP. e. raises the interest rate, causing a decrease in investment and a decrease in GDP.
Which of the following is an example of government intervention to solve a Tragedy of the Commons problem?
a. subsidizing basic research b. building lighthouses c. toll charges on congested roads d. cost-benefit analysis
Comparable worth is the principle that:
A. goods and services priced the same have about the same worth. B. the wage rate equals the value of productivity. C. men and women should be paid comparably. D. employees who perform comparable jobs should be paid the same wage.
If it costs Con Ed approximately $20 per additional ton of air pollution abated, but it costs PG&E only $10 per additional ton of air pollution abated and a marketable pollution permit trades for $14 per ton,
A. both PG&E and Con Ed could gain by buying. B. PG&E could gain by buying and Con Ed could gain by selling. C. both PG&E and Con Ed could gain by selling. D. society would gain if PG&E would sell and Con Ed would buy.