According to your textbook authors, pollution is
A) an imaginary problem invented by fanatical environmentalists.
B) a major social and political concern because people disagree about rights.
C) a less important problem than inefficiency.
D) always increasing and never capable of being reduced.
B
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According to the liquidity premium theory of the term structure, a steeply upward sloping yield curve indicates that short-term interest rates are expected to
A) rise in the future. B) remain unchanged in the future. C) decline moderately in the future. D) decline sharply in the future.
Which of the following is an example of entrepreneurship?
A) a student who produces and sells t-shirts at a football game B) all of the above C) an employee who figures out how to make her services more valuable to the business for which she works D) a 15-year old who operates a lemonade stand during hot summer days
Juan is going to spend all of his income. For the last unit of Good X consumed Juan gets 20 utils and for the last unit of Good Y consumed he gets 10 utils. The price of Good X is $4. The price of Good Y is $2. If Juan wants to maximize his utility he should
A. continue to purchase the same amount of Good X and Good Y. B. increase the consumption of Good X and decrease the consumption of Good Y. C. decrease the consumption of Good X and increase the consumption of Good Y. D. decrease the consumption of Good X and decrease the consumption of Good Y.
Which of the following statements pertains to the four-firm concentration ratio? I. It is the percentage of the value of sales accounted for by the four largest firms in an industry. II
A high concentration ratio is indicative of a high degree of competition. III. The ratio is used to measure product differentiation. A) I only B) I, II only C) I, III only D) I, II, and III