Senator DuMonde favors a government program that he believes will help save endangered species. Economic analysis indicates that
a. because Senator DuMonde has good intentions, his new program will have the desired results.
b. Senator DuMonde's new program could have unintended consequences that might result in an outcome different from what was intended.
c. regardless of any secondary effects, costs should not be considered when designing environmental legislation.
d. because Senator DuMonde's proposal is a government program, it will not have an opportunity cost.
B
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The cross elasticity of demand for good A with respect to good B is 0.2 . A 10 percent change in the price of good B will lead to a ____ percent change in the quantity of good A demanded. Goods A and B are _______
A. 2; substitutes B. 0.5; complements C. ?2; complements D. ?0.5; substitutes
According to the endogenous growth model with human capital, what can we say about countries with more efficient schools?
A) They are richer. B) They are richer and grow faster. C) They are richer and grow more slowly. D) They grow faster.
The poverty rate for Hispanics is ______ than the rate for non-Hispanic whites and ______ than the rate for blacks.
A. higher; slightly higher B. lower; slightly lower C. higher; slightly lower D. lower; slightly higher
Which of the following contributes to the high productivity of American workers?
A. The labor-intensive production process in the United States. B. The decreasing investment in human capital. C. The low level of factor mobility. D. The abundance of capital relative to labor.