Describe the connections between rising income and environmental and social indicators. Which indicators improve and which worsen as national income rises?
What will be an ideal response?
Carbon dioxide emissions get worse as income rises; access to safe drinking water improves. Child mortality and child labor both decrease as national income rises. Other indicators are more mixed. Deforestation occurs more in low- and upper-middle income countries, while lower-middle countries have deforestation but less than the upper middle income group, and high-income countries both experience reforestation.
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What is required for a market to be considered monopolistically competitive? How does the equilibrium in a monopolistically competitive market resemble that in a perfectly competitive market? How are they different?
What will be an ideal response?
Explain the difference between a cooperative equilibrium and a noncooperative equilibrium in game theory
What will be an ideal response?
The least-cost way of producing a particular rate of output is represented by a point of tangency between a short-run average cost curve and the
a. total cost curve b. short-run average total cost curve c. average variable cost curve d. long-run average cost curve e. marginal cost curve
Briefly explain how moral hazard contributed to the problems faced by Freddie Mac and Fannie Mae in the 2008 financial crisis.
What will be an ideal response?