In the process of reducing pollutants in our environment, we are
A) achieving a cleaner environment at no real cost.
B) causing higher levels of unemployment.
C) reallocating resources in an inefficient manner.
D) trading off less of other goods and services for a cleaner environment.
D
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According to the above table, the value of M1 is
A) $1,205 billion. B) $1,213 billion. C) $1,888 billion. D) $1,629 billion.
Over the past four decades
A) the growth rate of real GDP per person in the United States has been increasing. B) U.S. real GDP per person has fallen below that of the other rich industrial countries. C) U.S. real GDP per person has increased. D) Both answers A and C are correct.
Paddy and Mick live in a small town. They burn coal to keep their houses warm at night. However, this burning of coal is harming the air quality of the neighborhood. Both Paddy and Mick could install air filters on their chimneys. These filters cost $50 each. Each filter provides a social benefit of $80, but those benefits are divided equally among Paddy and Mick. If both Paddy and Mick install
the filters, together they will _____. a. gain $10 b. gain $0 c. lose $20 d. gain $30
The restrictive monetary policy followed by the Fed in the early 1980s
a. reduced both unemployment and inflation. b. reduced inflation significantly, but at the cost of a severe recession. c. reduced unemployment significantly, but at the cost of higher inflation. d. raised both unemployment and inflation.