Because pollution reduces economic welfare, on this count real GDP as measured
A) decreases as pollution increases.
B) increases to take into account the expenditures that will be made in the future to clean up the pollution.
C) overstates economic welfare.
D) understates economic welfare.
C
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Why do people refuse to pay for public goods?
What will be an ideal response?
Marginal, average, and total figures are unrelated
a. True b. False Indicate whether the statement is true or false
If a foreign currency is quoted in American terms (the direct quote) and the forward rate for a foreign currency is less than the spot rate, the foreign currency is selling at a ________.
A) forward premium B) backward discount C) backward premium D) forward discount
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.