Which one of the following statements is true?
a. A low discount rate is always better for environmental protection
b. A high discount rate is always better for environmental protection
c. A discount rate of zero is always best for environmental protection
d. Discounting will decrease the magnitude of future costs and benefits
e. High discount rates should be used to evaluate long-term impacts
Answer: d. Discounting will decrease the magnitude of future costs and benefits
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Equilibrium price is _____ and equilibrium quantity is ______ units.
A. $12; 20
B. $12; 30
C. $20; 20
D. $20; 30
Velocity equals GDP __________ the money supply
A) plus B) multiplied by C) divided by D) minus
Efficiency wages create a
a. shortage of labor and so reduce unemployment. b. shortage of labor and so raise unemployment. c. surplus of labor and so reduce unemployment. d. surplus of labor and so raise unemployment.
On average, since 1900 U.S. output has grown roughly ________ times faster than population growth.
A. 3 B. 4 C. 5 D. 2