Efforts to raise money for local charities illustrate which of the following?
a. Using social pressure to produce a public benefit
b. Relying on society to develop positive externalities
c. Creating nonexcludable but rivalrous resources
d. Distributing private benefits throughout society
a. Using social pressure to produce a public benefit
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
The above figure shows the payoff matrix facing an incumbent firm and a potential entrant. If the fixed cost of entry were to increase, which of the following would occur?
A) The incumbent chooses the Cournot level of output. B) The incumbent shuts down. C) The entry-deterring level of output rises. D) The entry-deterring level of output falls.
Scarcity is a concept that implies that choices must be made
a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. Municipal solid waste includes nonhazardous and hazardous wastes disposed of in local communities. 2. According to available U.S. trend data, the number of landfills in the country has been increasing since 1960. 3. In the United States, the composition of MSW is categorized both by materials and by products. 4. The highest proportion of products in the MSW stream is consumer electronics. 5. One of the fastest growing segments of the MSW stream is plastics.