Long-run growth is sustainable if:
A. it can continue in the face of limited natural resources and the impact of growth on the environment.
B. people continue to buy enough goods and services.
C. energy prices are low.
D. environmental concerns are ignored during global recessions.
Ans: A. it can continue in the face of limited natural resources and the impact of growth on the environment.
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The infant-industry argument for protection is based on the idea of
A) learning-by-doing. B) dumping. C) absolute advantage. D) quotas are the least harmful method of protecting domestic firms. E) saving jobs in the U.S. economy.
Refer to Figure 6-8. Identify the two goods which are substitutes
A) Good X and Good Z B) Good Y and Good Z C) Good X and Good Y D) It is not possible to distinguish any relationship among the goods.
In a given year, a country's GDP = $3843, net factor payments from abroad = $191, taxes = $893, transfers received from the government = $422, interest payments on the government's debt = $366, consumption = $3661, and government purchases = $338
Calculate the values of private saving, government saving, and national saving.
When what people pay does not necessarily reflect the real value they put on a good, it is likely that the:
A. free rider problem does not exist. B. good will be undersupplied. C. good is easily excludable. D. not a socially desirable good.