Wealthier countries tend to consume less energy than poorer countries because wealthier countries can afford energy-efficient technologies.
Answer the following statement true (T) or false (F)
False
Wealthier countries tend to consume more energy than poorer countries because people want bigger houses, more travel, and other energy-consuming goods and services.
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When a tax is placed on sellers:
A. sellers always bear a higher incidence than buyers. B. buyers always bear a higher incidence than sellers. C. the effect on the price buyers pay and sellers receive is the same as a tax on buyers. D. None of these is true.
The Federal Open Market Committee includes:
A. the Board of Governors. B. the Secretary of State. C. all regional bank presidents. D. the Chairman of the Treasury.
The U.S. money supply
A. does not grow from year to year. B. grows by about three percent from year to year. C. grows by about six percent from year to year. D. grows by varying amounts from year to year.
The cost effect implies that
A. Higher costs are reflected in higher average prices. B. The aggregate demand curve is downward-sloping. C. The aggregate supply curve is linear. D. Lower average prices result in greater quantity supplied.