Attaining higher and higher levels of air cleanliness causes
A) additional costs to rise to increasingly high levels.
B) larger and larger increases in per capita incomes.
C) additional costs to fall to lower and lower levels.
D) larger and larger marginal benefits to society.
Answer: A
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A decrease in aggregate demand results in a(n) ________ in the ________
A) expansion; long run B) recession; short run C) expansion; short run D) recession; long run
If an agricultural market is perfectly competitive, then
A. Each firm's demand curve is perfectly inelastic. B. A farmer practices price discrimination. C. The market demand curve is perfectly elastic. D. A farmer is a price taker.
The federal government and insurance companies are examples of third party
A) payers for health care. B) users of health care. C) providers of health care. D) observers of health care.
Related to the Economics in Practice on p. 666: When a country opens its markets to free trade, competition ________ and efficiency ________.
A. grows; improves B. grows; declines C. decreases; declines D. decreases; improves