Compared to the situation existing when the Kyoto Protocols were created,
A. India actually produces less greenhouse gasses (GHG).
B. the U.S. Senate finally approved the treaty under pressure from President Bush.
C. China produces two and one-half times more greenhouse gasses (GHG).
D. the U.S. is producing less greenhouse gasses (GHG) than it had promised.
Answer: C
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The short run is best defined as:
A. a period of time sufficiently short that at least one factor of production is fixed. B. one year or less. C. the period of time between quarterly accounting reports. D. a period of time sufficiently short that all factors of production are variable.
Adverse selection occurs in the insurance market because:
A. the seller has more information than the buyer. B. the buyer has more information than the seller. C. both the buyer and the seller have incomplete information. D. Any of these could be the cause of adverse selection in insurance market.
A worker's accumulated investment in education, training, experience, and health is called:
a. derived labor demand. b. collective entrepreneurship. c. seniority. d. human capital.
The development of new technology typically:
a. shifts the supply curve to the right. b. reduces profits. c. results in a downward movement along a supply curve. d. increases costs of production. e. shifts the demand curve to the right.