Which of the following countries experienced a decline in total output from 2000 to 2015?
A. Burundi.
B. Canada.
C. Zimbabwe.
D. China.
Answer: C
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In the Kyoto Protocol, participating nations agreed to
A) trade carbon-dioxide permits. B) eliminate all emissions of greenhouse gases by 2020. C) reduce their overall emissions of greenhouse gases between 1997 and 2020 to as much as 20 percent below 1990 levels. D) buy greenhouse gas emission permits from developing nations.
Assume that the production of a good imposes external costs upon third parties. If the price and quantity of this good is set by supply and demand the price will be too:
a. high and quantity too low for efficient resource allocation. b. low and quantity too low for efficient resource allocation. c. low and quantity too high for efficient resource allocation. d. high and quantity too high for efficient resource allocation.
A profit-maximizing firm in a monopolistically competitive market is characterized by which of the following?
a. average revenue exceeds marginal revenue b. marginal revenue equals marginal cost c. price exceeds marginal cost d. All of the above are correct.
Special interest groups are very unlikely to push for policies that increase the size of their slice of the economic pie if it means that the overall size of the economic pie will shrink
Indicate whether the statement is true or false