People who make the arguments that economic growth will deplete natural resources make the same assumption Malthus made about resources. What is that assumption?
a. Natural resources will never run out because they are freely available from nature
b. Natural resources cannot be produced, so they are available in fixed quantities.
c. That new technology will limit our dependence on natural resources so they won't be depleted.
d. That the government will eventually step in to save the natural resources from depletion.
b
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A tariff makes the total economy
A) better off because it increases the domestic production of the good. B) better off because it decreases the deadweight loss from international trade. C) worse off because it creates a deadweight loss. D) worse off because it creates revenue for the government. E) worse off because it decreases both domestic consumer surplus and domestic producer surplus.
The following is NOT an example of a potential monitoring solution to moral hazard
a. blocking social network sites on company computers b. closed circuit TVs throughout a warehouse c. requiring a kitchen remodeling contractor to be 'bonded' d. listening in on call center conversations
A metal-stamping factory moves next to a day care center. Noise from the factory makes it impossible for the kids to nap. It would cost the factory $5 million to move; it would cost $1 million for the day care center to move. Sound insulation for the factory costs $1 million; insulation for the day care center costs $200,000 . The court determines that the day care center has the property right
What would be the optimal solution to this problem? a. The factory should install sound insulation because that is cheaper than moving. b. The factory should pay the day care center to move. c. The factory should buy insulation for the day care center. d. The day care center should buy its own insulation. e. The day care center should move.
Which of the following types of unemployment would best characterize a swimming instructor's unemployment during the winter months?
A. Structural unemployment. B. Frictional unemployment. C. Seasonal unemployment. D. Cyclical unemployment.