A prisoner's dilemma exists for global pollutants because:
a. countries do not face the full cost of pollution that they generate.
b. countries that regulate pollution gain more than countries that do not regulate pollution.
c. countries that regulate pollution lose more than countries that do not regulate pollution.
d. no country follows international agreements to limit pollution.
Ans: a. countries do not face the full cost of pollution that they generate.
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The historical record for the United States over the last 100 years shows
A) mostly positive economic growth, though the Great Depression caused actual GDP to dip well below potential GDP. B) economic growth for about half the years and economic decline for the other half. C) growth until 1970 and then a period of constant per person real GDP. D) continuous economic growth for each year, although at different rates, throughout the entire century.
A college must decide if it wants to offer more evening and weekend classes. This decision involves answering the economic question of "for whom to produce."
Indicate whether the statement is true or false
The poverty line
A. is shifted downward from year-to-year. B. is constant. C. is raised from year-to-year. D. is tied to the unemployment rate.
Use the following figure to answer the next question.
A shift from AS1 to AS2 would be consistent with what economic event in U.S. history?
A. Demand-pull inflation in the late 1960s B. Cost-push inflation in the mid-1970s C. Great Recession in 2007-2009 D. Full-employment in the late 1990s