Could pollution be eliminated by banning all activities harmful to the environment?
A) No, because legislation is influenced by industrial lobbyists.
B) No, because the cost of doing so would be higher than even the most dedicated environmentalist would agree to accept.
C) Not until we have better information on the sources of pollution.
D) Yes, if we are willing to place long-run considerations ahead of short-run profits.
B
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The U.S. economy experienced the Great Depression in the:
A. 1910s. B. 1940s. C. 1920s. D. 1930s.
Assume the market for orange juice is perfectly competitive. Orange juice producers currently earn a zero economic profit. Orange juice producers will likely begin to earn economic profits in the short run, and some producers will enter the industry until all firms in the industry earn a zero economic profit, if consumers
A. do not change their demand for orange juice. B. switch from grape juice to orange juice. C. switch from orange juice to grape juice. D. All of the above are correct.
Real GDP per capita
A. necessarily grows more rapidly than real GDP. B. cannot grow more slowly than real GDP. C. cannot grow more rapidly than real GDP. D. can grow either more slowly or more rapidly than real GDP.
The minimum point of a U-shaped curve
A) is a point where the variable is neither increasing nor decreasing. B) has a slope equal to zero. C) has the maximum slope possible. D) Both answers A and B are correct. E) Both answers A and C are correct.