According to the textbook authors, pollution is a growing "social" problem because
A) only society, rather than individuals, pollutes.
B) pollution is inefficient.
C) pollution is economically efficient.
D) more people are beginning to question the moral and legal rights of polluters.
D
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What benefits are to be gained from countries producing according to the law of comparative advantage? What if a country is absolutely more productive in all goods?
The accompanying graph shows the long-run supply and demand curves in a purely competitive market. We know that when this market reaches equilibrium, the marginal
a) cost equals marginal benefit. b) benefit exceeds marginal cost. c) cost exceeds marginal benefit. d) cost equals zero.
Diversification can reduce firm-specific risk
a. True b. False Indicate whether the statement is true or false
Which of the following is not a factor of production?
A. Land B. Money C. Capital D. Labor