The marginal external damages of pollution, MEDP, curve could also be viewed as the marginal benefits of pollution abatement.
a. true
b. false
Ans: a. true
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Which economic concept is the closest to the saying "There's no free lunch"?
a. Specialization b. Unlimited wants c. Underutilization of resources d. Opportunity costs e. Overutilization of resources
Which of the following explains why GDP per capita is likely to decline in less developed countries?
A. Unemployment growth is greater than population growth. B. Population growth is greater than inflation. C. GDP growth is greater than capital investment growth. D. Population growth is greater than GDP growth.
If the spending multiplier is 3 and the desired amount of increase in real GDP is $90 million, then by how much would government spending have to increase??
A. ?$270 million. B. ?$90 million. C. ?$30 million. D. ?$0.
In a two-country, two-commodity model, if a country has an absolute advantage in the production of a certain good, it implies that
A. this country has higher labor productivity in the production of this good. B. it is not possible that this country can gain by importing this good from the other country. C. this country also has a comparative advantage in the production of this good. D. this country has greater resources than the other country.