The materials balance model

a. captures only environmental pollution
b. explicitly illustrates both the flow of resources and the flow of residuals
c. illustrates both the money and real flows
d. all of the above
e. (b) and (c) only


e. (b) and (c) only

Economics

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When exchange rates are not determined in the market but are instead set by a country's central bank, we say that the country's exchange rate is

A) fixed. B) a real exchange rate. C) flexible. D) a nominal exchange rate.

Economics

What is the tragedy of the commons? Give two examples, including one from your state

What will be an ideal response?

Economics

Potential output of the country when viewed over long periods of time:

A. tends to rise over time. B. is surprisingly constant. C. always decreases. D. rises in spurts and then starts a downward trend that can last years.

Economics

If a nation decides to specialize and trade, which of the following situations could be expected to occur?

a) lower prices b) fewer domestic jobs c) decreased resource availability d) decreased dependence on other nations e) decreased quantity and quality of goods

Economics