According to predictions made by the Club of Rome in 1972, the collapse of the world economy will occur because of
A. low saving rates and, therefore, low rates of capital accumulation.
B. the ever-increasing birthrate in developed countries.
C. the depletion of nonrenewable resources.
D. the world's limited capacity to produce food.
Answer: C
You might also like to view...
A good example of a price floor is:
a. rent controls on apartments in major cities. b. general admission tickets to concerts. c. the minimum wage law. d. food stamp regulations. e. rock concert tickets.
The constant velocity of money in the quantity equation implies that any increase in the money supply has to lead directly to:
A. an increase in P. B. an increase in V. C. an increase in Y. D. a decrease in P.
Which of the following best explains why price in competitive price-taker markets will tend to be driven to the minimum average total cost?
a. homogeneous products. b. few sellers. c. firms face downward-sloping demand curves. d. free entry and exit.
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. Suppose the government assigns property rights to the airlines, then the
airlines and the residents engage in negotiations. The resulting efficient level of air travel is A. 0 units. B. 100 units. C. 120 units. D. indeterminate from the given information.