The former communist countries of eastern Europe and the Soviet Union
a. have a better track record in environment protection than market economies.
b. have a dismal environmental record.
c. epitomize the ability of planned economies to protect the environment.
d. have no water pollution problems.
b
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All else equal, if oil prices decrease, annual oil consumption will ________ and the years it will take to deplete the stock of oil will most likely ________
A) decrease; increase. B) decrease; decrease C) increase; increase D) increase; decrease
National saving equals
A) household saving + business saving. B) household saving + business saving + government saving. C) household saving + business saving + net taxes - government expenditure. D) Both answers B and C are correct.
An asset that can easily be exchanged for goods and services is referred to as:
a. an intangible asset. b. a productive resource. c. a liquid asset. d. a fixed asset. e. a scarce resource.
A normative economic statement is
a. a statement of fact b. a statement of opinion which advocates a particular position c. not acceptable in the economics profession d. the only acceptable manner to present economic information e. a statement based upon government-supplied information