Part of the pollution problem is due to
a. the absence of markets for goods like clean air and clean water.
b. the lack of well-defined property rights to clean air and clean water.
c. the unreliability of voluntary programs to cut pollution.
d. All of the above are correct.
d
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When technology advances, supply
A) increases, which is represented by a leftward shift in the supply curve. B) increases, which is represented by a rightward shift in the supply curve. C) decreases, which is represented by a rightward shift in the supply curve. D) decreases, which is represented by a leftward shift in the supply curve. E) remains the same; only quantity supplied changes.
Since 1960, South Korea and Singapore enjoyed an average per-capita growth rates ________ the average industrialized world
A) far below B) far above C) about the same D) slightly below E) slightly above
Which of the following is an example of a positive economic statement?
a. The economy's real output increased at about 3 percent last year and the unemployment rate decreased. b. A central bank should not print too much money because inflation could result. c. Congress should stabilize the social security system by raising taxes now. d. The government farm products surplus should be distributed to the needy.
A community golf course or swimming pool that is not congested feature as which of the following types of good?
a. Private b. Quasi-public c. Open-access d. Public