In recent years, many environmentalists have proposed changes to GDP accounting that would take into account the impact of economic activity on the environment. Which of the following economic activities that affect the environment is currently included in GDP?
A. Expenditures on pollution control technology
B. The effect of the depletion of oil reserves on energy expenditures
C. The impact of corporate pollution on health care spending
D. The effect of deforestation on global climate change and the income of future generations
Answer: A
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The table above gives the purchases of an average consumer in a small economy. (These consumers purchase only loaves of bread and jugs of soda.) Suppose 2010 is the reference base period
a. What quantities are in the CPI market basket? b. What is the cost of the CPI market basket using 2010 prices? c. What is the cost of the CPI market basket using 2011 prices? d. What is the CPI in 2011?
When financial institutions are able to reduce the costs of information for each service they offer by applying the same information source to each service, we say that the financial institution is realizing
A) economies of scope. B) economies of scale. C) increasing returns. D) diminishing marginal returns.
At the short-run break-even point, the perfectly competitive firm is
A) earning positive economic profits. B) earning zero economic profits. C) earning negative economic profits. D) just covering its total variable costs.
Renters of rent-controlled apartments will likely benefit from both lower rents and higher quality of apartments
a. True b. False Indicate whether the statement is true or false