Would an economist consider clean air a scarce resource? Explain
What will be an ideal response?
Yes, because the air had alternative uses. We can choose to use it to either breathe or to undertake activities that pollute it. The more we want to breathe clean air the more we must limit the production of pollutants. The more we pollute the air the less we can breathe clean air.
You might also like to view...
In Figure 33.4, what is the burden of the tax on workers?
A. The wage reduction from W3 to W2. B. The wage reduction from W3 to W1. C. The wage reduction from W5 to W2. D. The wage reduction from W5 to W3.
The towns of Jekyll and Hyde each have a labor force of 2,000 people. In Jekyll, 500 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Hyde, every member of the labor force was unemployed for three months and was employed for nine months. The average duration of unemployment spells over the year was ________ months in Jekyll and ________ months in Hyde.
A. 3; 9 B. 12; 3 C. 3; 3 D. 12; 9
__________ plus __________ plus __________ equals ___________.?
A. ?Total deposits, loans, required reserves, excess reserves. B. ?Loans, required reserves, excess reserves, total deposits. C. ?Required reserves, total deposits, excess reserves, loans. D. ?Excess reserves, loans, total deposits, required reserves.
What factors explain economies of scale?
Please provide the best answer for the statement.