A. countries with lower GDP per person tend to have healthier environments. B. countries with higher GDP per person tend to have healthier environments. C. there is no correlation between GDP per person and environmental quality. D. growth in GDP
per person initially improves environmental quality and then gradually reduces it.
A. the United States and Tanzania.
B. Switzerland and Latvia.
C. New Zealand and Sweden.
D. Brazil and Australia.
Answer: B
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Your neighbor likes to blast 1970's rock music and the louder the better. The loud music imposes a cost on you because it disrupts your study of economics. Let D stand for the volume of his music in decibels, B for his benefits and C for your costs, where B and C are measured in dollars. For any given volume, D, your neighbor's benefit is B = 0.63D - 0.002D2 and your cost is C = 0.06D + 0.001D2. What is the marginal cost to you at the socially efficient noise level?
A. $0.75 B. $0.29 C. $0.24 D. $0.25
The game of Matching Pennies
a. has no Nash equilibrium. b. has a pure-strategy Nash equilibrium. c. has a mixed strategy Nash equilibrium. d. has multiple Nash equilibria.
Potential output in an economy is dependent upon which of the following factors?
a. the given supply of resources b. rate of unemployment c. nominal wages d. potential output is not dependent on any of the previous factors
Real GDP is the most effective measure for determining the:
A. Income level per household. B. Change in the price level. C. Standard of living across countries. D. Growth rate of the economy over time.