Which of the following assertions about pollution is generally agreed with by economists?
A) Pollution is never a problem because those who pollute and the victims of pollution can always bargain with one another and arrive at a suitable outcome.
B) Due to the demand for products made by those who pollute, it is best to not restrict pollution.
C) The problem we face in dealing with pollution is determining the optimal amount of pollution.
D) The ideal amount of pollution is no pollution.
C
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The slope of the production possibilities curve is
A) positive and increasing. B) the opportunity cost of one good in terms of the other. C) positive and decreasing. D) positive.
Economists normally assume that the goal of a firm is to: a. sell as many units of output as possible
b. maximize profits. c. sell products at the highest prices possible. d. maximize sales revenue.
Very recently, the debt-to-GDP ratio has been:
A. higher than usual. B. lower than usual. C. stabilized. D. volatile.
Which of the following describes the difference between the market demand curve for a perfectly competitive industry and the demand curve for a firm in this industry?
A) The market demand curve is a horizontal line; the firm's demand curve is downward sloping. B) The market demand curve is downward sloping; the firm's demand curve is a vertical line. C) The market demand curve can not have a constant slope; the firm's demand curve has a slope equal to zero. D) The market demand curve is downward sloping; the firm's demand curve is a horizontal line.