Economic growth may face environmental limits because:
A. the market mechanism mobilizes resources to deal with shortages.
B. economic growth may lead to less, not more, pollution.
C. global environmental problems are not handled by markets or national governments.
D. economic growth can take the form of new, different, and "cleaner" goods and services.
Answer: C
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When existing stocks of resources are being heavily utilized, actual output is
A) likely to grow much faster than natural output. B) likely to grow more slowly than natural output. C) equal to natural output. D) no longer tied to natural output.
The risk-free rate is not:
A. usually approximated by interest rates on U.S. government debt. B. the interest rate at which one would lend if there were no risk of default. C. lower than any other interest rate. D. usually approximated by interest rate on corporation debts.
The Employment Act of 1946 directed the federal government to pursue the three objectives of maximizing employment, production, and purchasing power
a. True b. False
Which of the following is an implicit cost of going to college?
a. tuition and fees b. books, computer equipment c. income lost from not being able to work full time d. future income e. room and board