Answer the following statement(s) true (T) or false (F)
1. The largest “hole” in the earth’s ozone layer occurs over North America.
2. Scientists agree that the presence of chlorofluorocarbons (CFCs) in the atmosphere most likely explains the existence of the ozone hole.
3. The release of CFCs associated with the production of refrigeration units is an example of a negative externality.
4. The Kyoto Protocol banned the use of CFCs.
5. CFC allowance trading was an integral part of achieving the objectives of the Montreal Protocol.
1. False
2. True
3. True
4. False
5. True
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If saving is less than investment, the appropriate countercyclical monetary policy would be:
A. an open market sale of government bonds. B. a cut in the reserve requirement. C. a cut in the federal funds rate. D. a cut in the discount rate.
Foreign factories produce ________ of the shoes New Balance sells in the United States
A) none B) less than 15 percent C) roughly half D) about 75 percent
Explain the endowment effect
What will be an ideal response?
The most frequently reported price index is ________
A) the consumer price index (CPI) B) the gross domestic product (GDP) deflator C) the personal consumption expenditure (PCE) deflator D) chain weighted GDP E) the interest income deflator