For which of the following types of environmental pollution can we expect that the level of environmental harm would increase as per capita income increases?
A. Arsenic in water
B. Lead pollution in water
C. Carbon monoxide
D. Carbon dioxide emissions
Answer: D
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According to your text, many people don't understand how economic systems work because they
A) are too lazy to study them. B) don't think economic systems matter greatly. C) tend to look at them when they are not performing adequately. D) prefer to believe what they read or hear in the media. E) have not been trained in the scientific way of thinking.
If a monopoly is producing an amount of output level at which marginal revenue exceeds marginal cost, in order to increase its profit the monopoly will ________ its price and ________ its output
A) raise; decrease B) lower; increase C) lower; decrease D) raise; increase
New residential housing is counted in GDP as
a. a durable consumption good. b. a household durable good. c. an investment good. d. an inventory expansion. e. a long-term durable good.
Refer to the demand and supply diagram that relates to the health care market. Without health insurance, the equilibrium price and quantity of health care would be:
A. P 1 and Q 1 .
B. P 1 and Q 2 .
C. P 2 and Q 2 .
D. P 2 and Q 1 .