Are national forests public goods? Explain
Yes. Forests provide soil retention with root systems and help store carbon while releasing oxygen into the air. These benefits are not (generally) depletable and are not excludable.
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Suppose the population (age 16 and over) of New Zealand is 48 million; 4 million are unemployed, and 40 million hold jobs. Indicate the rate of unemployment and the employment/population ratio of New Zealand
a. The unemployment rate is 10 percent, and the employment/population ratio is 75 percent. b. The unemployment rate is 9.1 percent, and the employment/population ratio is 91.7 percent. c. The unemployment rate is 10 percent, and the employment/population ratio is 83.3 percent. d. The unemployment rate is 9.1 percent, and the employment/population ratio is 83.3 percent.
Division of labor means that
A) the labor market in the United States is geographically segmented. B) some employees join labor unions and others do not. C) management and labor are always in conflict. D) the production process is divided into smaller tasks.
Which of the following statements is TRUE?
A. Gross Domestic Product (GDP) may be calculated using the income or the expenditure approach. B. The value of intermediate goods is included in Gross Domestic Product (GDP). C. The value of illegal activities is included in Gross Domestic Product (GDP). D. The value of a homemaker's services is included in Gross Domestic Product (GDP).
Along a straight line, when x equals 90, then y equals 30. When x equals 120, then y equals 40. The slope of the straight line is
A) 1/3. B) -1/3. C) 3. D) -3.