"Show me a pastoral society with an untouched environment, an abundance of leisure, and nonsecular values, and I will show you an underdeveloped, poverty-ridden country." This statement is most likely to be made by a(n):
A. proponent of economic growth.
B. critic of economic growth.
C. advocate of network effects.
D. advocate of learning by doing.
Answer: A
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If it is possible to make a change that will help some people without harming others, then the situation is:
A. efficient. B. inefficient. C. unfair. D. fair.
What is meant by "excess capacity"? How does it relate to consumer utility?
What will be an ideal response?
Which of the following was an important reason why the United States did NOT sign the Kyoto Protocol?
a. It believed that exemptions for some of its major developing country trading partners (such as China and India) were unfair. b. It believed that Europe's targets were set ridiculously low. c. It believed that pollution does not cause global warming. d. It believed that targets for some of its major developing country trading partners (such as China and India) were too low.
In a large open economy like the United States, an increased government budget deficit which reduces national saving
A. reduces investment and reduces the current account balance. B. reduces investment and improves the current account balance. C. has no effect on investment, but reduces the current account balance. D. has no effect on either investment or the current account balance.