When logging in the Pacific Northwest destroys forests that hikers would have used for eco-tourism, the destruction of the trails is an example of
A) an external cost.
B) a private cost.
C) a government cost.
D) an external benefit.
E) None of the above answers is correct.
A
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What will be an ideal response?
Different measurements of elasticity include:
A. cross-price elasticity of demand, income elasticity of supply. B. preference elasticity of demand, cross-price elasticity of supply. C. price elasticity of demand, price elasticity of supply. D. income elasticity of demand, income elasticity of supply.
Which is characteristic of a traditional economy?
a. Communities tend to be fast-growing. b. They are usually based on light industrial production. c. They have a high standard of living. d. Children tend to have the same jobs as their parents did.
If some specific prices fall, some relative prices rise, and average prices remain unchanged, there has been a period of
A. Disinflation. B. Stable price levels. C. Deflation. D. Inflation.