The ability of natural environments to absorb wastes
a. is called the sponge function.
b. is abused by excessive pollution.
c. imposes negative externalities on wildlife.
d. is replenished by flow pollutants.
e. All of the above.
Ans: b. is abused by excessive pollution.
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The effects of the national health care program on goods and services markets will
A) increase the marginal cost of the firm. B) increase the quantity produced of the firm. C) consumers will pay lower prices for many goods and services. D) decrease the quantity demanded for all goods and services.
In the United States, the most recent use of wage and price controls occurred during the:
A. Nixon administration. B. Carter administration. C. Reagan administration. D. Clinton administration.
Unemployment and recessions are sometimes necessary to curb high inflation.
Answer the following statement true (T) or false (F)
In which industry structure is advertising and sales promotion likely to be most important?
A. monopoly B. monopolistic competition C. perfect competition D. All of these are equally reliant on effective advertising and promotion.