Haiti was once heavily forested. Today, 80 percent of Haiti's forests have been cut down, primarily to be burned to create charcoal. The reduction in the number of trees has led to devastating floods when it rains heavily. This is an example of
A) the tragedy of the commons.
B) tragic externalities.
C) human greed.
D) the consequences of too many people having private property rights.
A
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What are the key factors that determine the profitability of a firm in a monopolistically competitive market?
What will be an ideal response?
According to Thomas Sargent and other new classical economists,
a. a credible policy to provide low stable money growth can exist with a fiscal policy that generates large deficits. b. a credible policy to provide low stable money growth cannot coexist with a fiscal policy that generates large deficits. c. there is no need for a credible, noninflationary monetary policy to control the government budgetary deficit. d. None of the above
Proponents of deficit reduction argue that the principal effect will be an
a. outward shift of the aggregate supply curve. b. inward shift of the aggregate supply curve. c. outward shift of the aggregate demand curve. d. inward shift of the aggregate demand curve.
As the maximum output level (real GDP) is approached, the aggregate supply curve
A. becomes flatter. B. is downward sloping. C. becomes steeper. D. remains unchanged.