Points that lie inside (or below) the PPF are
What will be an ideal response?
attainable and productive inefficient.
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Under the unified Euro regime, the European countries control
A) fixed exchange rate only. B) monetary policy oriented toward domestic goals only. C) freedom of international capital movements only. D) monetary policy oriented toward domestic goals and freedom of international capital movements. E) fixed exchange rate and freedom of international capital movements.
If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8 billion, then the currency-deposit ratio is
A) 0.25. B) 0.50. C) 0.40. D) 0.05.
When no one can be made better off without making someone else worse off, the economy is
a) in a steady state b) operating at full capacity c) Pareto efficient d) autarkic e) operating under oligopolistic conditions
Answer the following statement(s) true (T) or false (F)
1. Runoff from urban streets is an example of nonpoint source pollution. 2. Since acidic deposition arises around the world, it is considered to be global pollution. 3. The warmer temperatures in the Gulf of Mexico may have increased the magnitude and extent of the damages linked to the Gulf oil spill in 2010. 4. When scientists first identified the ‘ozone hole’ over the Antarctic region in the 1980s, it was less than 10 miles in diameter. 5. Concern for managing natural resources to ensure their quality and abundance for future generations is called sustainable development.