Answer the following statement(s) true (T) or false (F)
1. Proponents of an environmentally adjusted measure of national income believe that environmental pollution linked to production should be recorded as a loss in the system of national accounts (SNA).
2. Improvements made to China’s environment in preparation for the Olympic Games in 2008 have been maintained and even enhanced over time.
3. The economic criteria concerned with minimizing resource use to achieve an objective is known as allocative efficiency.
4. Setting an air quality standard is an example of a command and control approach to improving the environment.
5. A tax imposed on emissions is an example of the market approach to pollution control.
1. True
2. False
3. False
4. True
5. True
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According to economic theory, elected government officials will favor
A) federal budget surpluses. B) balanced federal budgets. C) federal budget deficits. D) shrinking federal budgets.
It is argued that if a rich high wage country such as the United States were to expand trade with a relatively poor and low wage country such as Mexico, then U.S. industry would migrate south, and U.S. wages would fall to the level of Mexico's
What do you think about this argument?
Suppose you found $5,000 hidden in your closet and deposited it in a demand deposit account at your bank. If the reserve requirement was 10 percent, the deposit would directly create ____ in excess reserves and ultimately lead to a ____ total increase in the money supply, if all banks in the system lend out 100 percent of their excess reserves
a. $500; $5,000 b. $4,500; $5,000 c. $4,500; $45,000 d. $4,500; $50,000
Suppose you transfer $1,000 from your checking account to your savings account. How does this action affect the M1 and M2 money supplies?
a. M1 and M2 are both unchanged. b. M1 falls by $1,000 . and M2 rises by $1,000. c. M1 is unchanged, and M2 rises by $1,000. d. M1 falls by $1,000 . and M2 is unchanged.