According to the materials balance model
a. recycling permanently eliminates residuals
b. only production can damage the environment
c. residuals arise from both consumption and production
d. only households undertake recycling and reuse
c. residuals arise from both consumption and production
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In the above table, if the market is perfectly competitive and unregulated, at the equilibrium output level
A) marginal private cost equals the marginal private benefit. B) marginal private cost is less than the marginal private benefit. C) marginal social cost equals the marginal private benefit. D) marginal social cost is greater than the marginal private benefit.
If the recessionary GDP gap is $500, then the proper fiscal stimulus when faced with an upward-sloping AS curve is to
A. Shift the AS curve rightward by less than $500. B. Shift the AD curve rightward by $500. C. Shift the AD curve leftward by $500. D. Shift the AD curve rightward by more than $500.
The cross elasticity of demand for pizza with respect to the price of a soda is
A) positive because the goods are complements. B) negative because the goods are complements. C) positive because the goods are substitutes. D) negative because the goods are substitutes.
Refer to the graph shown. The segment of the demand curve between the initial equilibrium price of $5.00 and the new equilibrium price of $3.00 is:
A. elastic. B. perfectly inelastic. C. inelastic. D. perfectly elastic.