An increase in GDP does not imply _____
a. an improvement in both life expectancy and the overall health of the population
b. a rise in the average level of education of the population
c. an improvement in the quality of air and water
d. an increase in spending on natural disasters and war
d
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How might governments achieve an efficient provision of education?
What will be an ideal response?
If the yield curve is flat for short maturities and then slopes downward for longer maturities, the liquidity premium theory (assuming a mild preference for shorter-term bonds) indicates that the market is predicting
A) a rise in short-term interest rates in the near future and a decline further out in the future. B) constant short-term interest rates in the near future and a decline further out in the future. C) a decline in short-term interest rates in the near future and a rise further out in the future. D) a decline in short-term interest rates in the near future and an even steeper decline further out in the future.
In a market where the tragedy of the commons arises, the equilibrium quantity is both individually ________ and collectively ________.
A. inefficient; rational B. irrational; efficient C. rational; inefficient D. efficient; irrational
The relationship between the quantity of a good or service sellers are willing to offer for sale at different prices is:
A) supply. B) demand. C) equilibrium. D) disequilibrium.