The main problem with using groundwater to increase water supplies is that
a. Groundwater tends to be contaminated with pesticides
b. Groundwater is normally found in countries that already have sufficient supplies
c. Groundwater aquifers are being rapidly depleted
d. Groundwater tends to be too salty
e. Groundwater tends to be too expensive
Answer: c. Groundwater aquifers are being rapidly depleted
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One attitude shift in the United States is that people are beginning ___________ at an earlier age
a. Travel planning b. Career planning c. Retirement planning d. Estate planning
The unemployment rate for African-Americans is, across age categories,
A. one percentage point lower than that of whites. B. several percentage points higher than that of whites. C. about the same as that for whites. D. less than half that of whites.
Marginal social cost is equal to
A) the amount people who buy a product pay for another unit. B) whatever producers have to pay to produce output. C) the sum of marginal private cost and the marginal external cost. D) the average of marginal private cost and the marginal external cost. E) None of the above answers is correct.
Ashwini is thinking of buying travel insurance (which pays her if she needs to cancel her trip) for her trip to Cancun over spring break. There is a 5 percent chance that she will need to cancel her trip
Without insurance she would lose the full $2,000 price of the trip; with insurance she would get a full refund of $2,000. The premium for this insurance is $105. Which of the following is CORRECT? I. The expected value of Ashwini's loss is $100. II. If Ashwini is risk averse she is willing to buy the insurance only if its price is less than $100. A) I only B) II only C) I and II D) neither I nor II