An important environmental objective is to preserve the variety of distinct species of animals and plants and the variety of ecosystems they inhabit. This is known as
a. biodiversity c. sustainable development
b. risk assessment d. pollution prevention
a. biodiversity
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The price system works in an economy on a day-to-day basis to match the desires of consumers with the output from producers
Indicate whether the statement is true or false
The above figure shows the U.S. market for replacement cell phone batteries. Area C is the
A) deadweight loss from tariff. B) decrease in consumer surplus due to the tariff. C) increase in producer surplus due to the tariff. D) tariff revenue. E) loss in total surplus because of the tariff.
If the nominal interest rate is 5 percent and the rate of inflation is 9 percent, then the real interest rate is
a. -4 percent. b. -0.44 percent. c. 4 percent. d. 14 percent.
Why is it desirable, if possible, to use policy to offset the effects of a decrease in aggregate demand?