The Endangered Species Act has
A. saved all endangered species without affecting anyone.
B. caused a loss of economic activities on some private land.
C. had no impact on either the number of endangered species or other economic activities.
D. further reduced the number of endangered species.
Answer: B
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A level of GDP cannot be at equilibrium when aggregate demand exceeds output because firms will notice that
A. inventory stocks are building up. B. inventory stocks are being depleted. C. their profits are negative. D. many of their workers have little to do.
Two countries, Baltonia and Polonia, have aggregate production functions of the form:
Y = A × K1/3 × H2/3 Both countries have the same number of efficiency units of labor and use the same technology. However, Baltonia has a lower capital stock than Polonia. Which of the following is likely to be true in this case? A) The poverty rate in Baltonia is lower than that in Polonia. B) The gross domestic product of Baltonia is lower than that in Polonia. C) The gross domestic product of Baltonia is higher than that in Polonia. D) The Human Development Index of Baltonia is higher than that of Polonia.
With a required reserve ratio of 20 percent, an increase in reserves of $10,000 could lead to a maximum increase in checking account deposits in the entire banking system of
A) $2,000. B) $8,000. C) $50,000. D) $100,000.
The credit derivative that, for a fee, gives the purchaser the right to receive profits that are tied either to the price of an underlying security or to an interest rate is called a
A) credit option. B) credit swap. C) credit-linked note. D) credit default swap.