Which of the following episodes would most likely contain an externality?
A) You cannot afford to buy groceries.
B) You decide to grow your own vegetables in your backyard where no one else can see them.
C) You decide to grow flowers in your front yard where everyone else can see them.
D) You eat all the vegetables you grow yourself.
C
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How does the owner of a corporation relate to the business?
A) The owners of the business have no separate legal distinction from the business. B) The owners of the business have a separate legal distinction from the business. C) The personal assets are part of the corporation's assets. D) None of these describe the legal relationship of corporate owners to the business.
________ gains from trade refer to the situation where, over time, international trade leads to an outward shift in a country's production possibility frontier
A) Static B) Dynamic C) Political D) Outward
Currently, which of the following countries have not ratified the Kyoto Protocol?
a. United States b. China c. Russia d. all of the above e. (a) and (b) only
Suppose that a new government is elected in Eurnesia. The new government takes steps toward improving the court system and reducing government corruption. The citizens of Eurnesia find these efforts credible and outsiders believe these changes will be effective and long lasting. These changes will probably
a. raise real GDP per person and productivity in Eurnesia. b. raise real GDP per person but not productivity in Eurnesia. c. raise productivity but not real GDP per person in Eurnesia. d. raise neither productivity nor real GDP per person in Eurnesia.