A reference dose (RfD) measures the amount of a
a. a pollutant one can be exposed to over a year without harm
b. a hazard one can be exposed to over a year before dying
c. an environmental hazard one can be exposed to over a lifetime before dying
d. all of the above
e. none of the above
e. none of the above
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Which of the following will increase the supply of vanilla ice cream?
a. an increase in the price of vanilla beans (an ingredient in ice cream) b. a decrease in the sales tax on restaurant bills c. an increase in the price of chocolate ice cream d. a decrease in the price of milk (an ingredient in ice cream) e. an increase in the price of hot fudge
What is the most appropriate test to evaluate whether a government-spending program will improve living standards and lead to higher income levels?
A) The value of the output generated by the government-spending program compared to its opportunity cost B) The total number of jobs created by the program C) The reduction in the rate of unemployment as the result of the spending on the program D) The taxes necessary to finance the program compared to the revenues generated by the additional employment created by the program
Which of the following is an accurate statement about rationality?
a. Rationality is the same for all people. b. Rationality is subjective. c. Rationality yields mostly satisfying results. d. Rationality uses complex formulas.
In the wake of the 2008 recession, the electronics retailer Circuit City closed its stores. If we assume this was a short-run decision, the most likely explanation for it is that the price of a typical product sold at Circuit City stores was:
A. less than the average variable cost of producing the toy. B. less than the average total cost of producing the toy but greater than the average variable cost. C. greater than the average total cost of producing the toy. D. equal to the average total cost of producing the toy.