_____ is any undesirable byproduct of production
Fill in the blank(s) with the appropriate word(s).
Answer: Pollution
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An economic model:
A. should include all possible details. B. always accurately predict cause and effect. C. should make clear assumptions. D. will never use simplifying assumptions.
Which of the following is true about games in which people have different information?
A. Participants in these games can sometimes learn important information from the behavior of others. B. Participants in these games never act in a way contrary to his immediate interests. C. Participants in these games always act in a way contrary to his immediate interests. D. These games always have a Nash equilibrium.
The amount of money a lender requires for the use of funds is called:
A. interest. B. principal. C. internal rate of return. D. present discounted value.
Using Figure 9.1, the amount of autonomous consumption is
A. $500 billion. B. Equal to disposable income when the consumption line crosses the 45-degree line. C. Different at every income level. D. $750 billion.