A society can improve environmental quality at the lowest cost when pollution is reduced by
What will be an ideal response?
firms with a comparative advantage in pollution reduction.
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If Pearl is a risk averse, then
A) expected utility has nothing to do with her choices. B) she does not have diminishing marginal utility of wealth. C) she will not buy insurance. D) risk is costly to her.
The major cost of production in the economy is
a. interest expense. b. capital costs. c. rents. d. profits. e. wages.
Victor works as a manager of a clothing store. He is paid an annual salary of $55,000. As part of his employee benefits, he receives private health insurance and his company contributes a small amount each month to a pension plan in his name. The company also pays taxes for Social Security and unemployment insurance. When considering the compensation of employees category of the income approach to GDP, which of the following lists includes the correct components of Victor's compensation?
A. salary and pension plan contribution only B. salary, health insurance, and pension plan contribution only C. Social Security taxes and unemployment insurance taxes only D. salary, health insurance, pension plan contribution, Social Security taxes, unemployment insurance taxes
Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:
A. asset price inflation. B. goods price deflation. C. a reduction in the debt ceiling. D. goods price inflation.