Which of the following is NOT a reason for the slope of the aggregate demand curve?
A. the interest rate effect
B. the substitution effect
C. the open-economy effect
D. the real balance effect
Answer: B
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Permanent resource price differentials are caused by
a. differences in resource quality b. differences in the time and training required to perform the job c. differences in nonmonetary aspects of the job d. a lack of resource mobility e. all of the above
Regulatory commissions may focus on establishing a "fair-return" price to be charged by a monopolist. Under this policy, the monopolist would earn:
a. positive economic profits. b. zero economic profits. c. negative economic profits. d. monopoly profits.
For economic purposes in the United States, the working-age population does not include:
A. anyone without a driver's license. B. someone who is 65. C. someone who is 16 and does not want to work. D. anyone in the military.
Answer the following statement(s) true (T) or false (F)
1. In the United States, tradeable effluent markets are far less common than they are in other countries. 2. A watershed refers to a hydrologically defined land area that drains into a specific water body. 3. The use of watershed-based NPDES permits allows for permitting multiple point sources within a single watershed. 4. According to the textbook application, efforts to restore the Chesapeake Bay have been markedly successful. 5. The presidential Executive Order that is dedicated to the restoration of the Chesapeake Bay proposes a strictly command-and-control approach to restore and protect this natural resource.