A person using a discount rate, or 0%, is going to consider the concept of sustainability
A. just a fancy term oil and gas companies use to argue for increased rights to drill.
B. as wise.
C. as unwisely focusing on the present.
D. as overly weighting the future.
Answer: B
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For a risk-averse individual, as wealth increases, total utility
A) increases at a decreasing rate. B) increases at a constant rate. C) increases at an increasing rate. D) is constant.
When deriving the production possibilities curve, it is assumed that
A) the amount of each good that is to be produced is fixed. B) the prices of resources are fixed along the curve. C) most resources can be used to produce only one good. D) resources are efficiently used.
In the United States, most workers
a. work for government of some sort. b. produce raw materials for manufacturing. c. work in agriculture and farming. d. produce services rather than goods.
Pollution is a negative externality, but it is not appropriate to view the problem of pollution as a common-resource problem
a. True b. False Indicate whether the statement is true or false