Economists generally consider the use of taxes as the most efficient way of solving pollution problems.
Answer the following statement true (T) or false (F)
True
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Which of the following statements is true?
A) If higher water prices encourage a landlord to place bricks in the water tanks of his toilets to reduce water usage, then for him bricks are substitutes for water. B) If higher gasoline prices encourage a potential vacationer to stay at home and read a good book by the fire, rather than drive through the country, then for her firewood is a substitute for gasoline. C) Both A and B are true. D) None of the above are true.
In a stock market boom ________
A) autonomous consumption might increase because stock holders might feel richer and consume more B) autonomous investment might increase because a higher stock value for a firm helps firms raise funds for increased investment C) the IS curve might shift to the right D) all of the above E) none of the above
Use the following graph to answer the next question.
Assume that Japan and the United States are engaged in a system of flexible exchange rates. If more Japanese tourists decide to visit the United States for their vacations, the yen will ________ and the U.S. dollar will ________.
A. depreciate; depreciate B. depreciate; appreciate C. appreciate; depreciate D. appreciate; appreciate
Suppose Aharoni and Kalinga are the only two countries in the world and they produce computers and shoes. Aharoni has 100 workers, and Kalinga has 200 workers. The table below shows the per-day production possibilities for each country. Aharoni has:
What will be an ideal response?