Voluntary programs, direct controls, and emissions taxes are all equally effective ways of controlling pollution
a. True
b. False
Indicate whether the statement is true or false
False
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Which adjustment(s) must be made to convert net domestic product to GDP? i. add indirect taxes ii. subtract subsidies iii. add depreciation
A) i and iii only B) i, ii and iii C) ii only D) iii only E) i and ii
In a period of rapid, unexpected inflation, resources can be lost
A) when firms invest in research and development instead of forecasting inflation. B) when firms use resources to forecast inflation. C) because rapid inflation almost always turns into a hyperinflation. D) Both answers B and C are correct.
In a flexible exchange-rate system, the value of a currency is determined by
A) the government. B) the intersection of the IS and LM curves. C) the demand and supply for the currency in the foreign exchange market. D) Swiss gnomes.
Which of the following situations is NOT possible?
A) SAC and LAC are both increasing for some output levels. B) SAC is increasing but LAC is decreasing for some output levels. C) SAC is decreasing but LAC is increasing for some output levels. D) SAC and LAC are both decreasing for some output levels. E) All of the above are possible.