Population growth will most likely lead to increased bottled water demand, short-term
a. shortages, and a resultant price increase
b. surpluses, and a resultant price increase
c. shortages, and a resultant price decrease
d. surpluses, and a resultant price decrease
e. surpluses, and a resultant price decrease
A
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In the graph shown below, assume policy changed overall environmental quality from E1to E2. Based on this information, the area or distance that represents an estimate of incremental benefits to achieve personal environmental quality of X2, according to the averting expenditure method (AEM), is
a. edfhX2 b. edhX2 c. dfh d. none of the above
Figure 18-1
According to the graph in Figure 18-1, the tax is which of the following?
A. 400 B. 600 C. 1,000 D. 200
"Monetary instability has been the major cause of economic instability in this country. Expansion in the money supply has been the source of every major inflation. Every major recession has been either caused or perpetuated by monetary contraction." Who among the following would most likely adhere to this view?
a. Monetarists. b. Keynesians. c. Demand-side economists. d. Quantity theorists.
Suppose a sushi restaurant is making significant economic profit in the short run. In the long run
A) more people will open sushi restaurants, reducing the economic profit for each restaurant. B) high barriers to entry keep people from opening sushi restaurants. C) the government will require the sushi restaurant to sell part of its interests in the city. D) more people will open steak restaurants, increasing the economic profit for the sushi restaurant.