When thinking about the real costs of environmental cleanup, we should take into consideration
A. A comparison of the costs of cleanup to the overall size of the U.S. economy.
B. The marginal costs but not the marginal benefits.
C. A comparison of the size of China's economy to the United States.
D. The total costs of the cleanup as estimated by the Environmental Protection Agency.
Answer: A
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The store of value does not require that money hold its value of time in terms of its purchasing power
Indicate whether the statement is true or false
An increase in the US demand for British pounds causes
a. An appreciation of the pound b. Depreciation of the dollar c. None of the above d. Both a and b
The opportunity cost of producing one keg of beer in Italy is
A. 3/2 pizzas.
B. 12 pizzas.
C. 4 pizzas.
D. 1/12 pizzas.
In a competitive market, each firm earns ________ economic profits, whereas firms in a successful cartel will earn ________.
Fill in the blank(s) with the appropriate word(s).