Adjusting GDP downward for the impact industry has on the environment results in a number that is greatly disputed, but is often referred to as

Mulch is shredded wood and is a by-product in the production of lumber. Because these two goods are produced together, they are

A) complements in production. B) substitutes in production. C) inputs into the same production process. D) not related. E) normal goods in production.

Refer to Scenario 5.4. What is the pay-off of outcome C?

A) -150 B) 0 C) 25 D) 100 E) 150

Which of the following equations is equivalent to the equation S - NX = I?

A. S - I = KI B. S + I = NX - KI C. S + KI = I D. S - KI = NX

It is ______ to make utility comparisons between two different people.

a. rational b. complicated c. ethical d. impossible