Saving endangered species
A) benefits all people in society without any trade-off.
B) must involve the loss of another species.
C) may involve a trade-off in terms of the loss of other economic activities.
D) requires the government to list those species as common property.
C
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
In the above figure, if the price is $16 per unit, how many units will a profit maximizing perfectly competitive firm produce?
A) 0 B) 20 C) 30 D) 35
Let R2unrestricted and R2restricted be 0.4366 and 0.4149 respectively. The difference between the unrestricted and the restricted model is that you have imposed two restrictions. There are 420 observations. The F-statistic in this case is
A) 4.61 B) 8.01 C) 10.34 D) 7.71
We translate nominal income in any past year into constant, real dollars to:
A. allow us to compare changes in purchasing power over time. B. see what an income we were earning in the past would be equivalent to today. C. understand what a salary in the past would equal in current dollars to determine how much more we have actually gained in purchasing power. D. All of these statements are true.