To efficiently improve environmental quality, it is usually
A. better to focus on the hardest areas to clean up first since these usually are the biggest problems.
B. more appropriate to concentrate on the physical quantities of pollution rather than on economic costs.
C. better to focus on economic damages rather than physical quantities of pollution.
D. best to set up stringent emission standards that must be followed by everyone.
Answer: C
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A central bank can help stop a bank panic by
A) calling in consumer loans. B) raising the required reserve ratio. C) acting as a lender of last resort. D) decreasing income taxes.
The currency value of Agraria is set by government decree. Which of the following happens when the government alters the exchange rate so that its currency can buy more units of foreign currency?
a. Reflation b. Devaluation c. Appreciation d. Revaluation
Which of the following statements is false?
A) There are fewer farms in this country today than there were earlier in this century. B) In 2000, there were 8 million farms in the United States. C) Bad weather reduces the supply of foodstuffs and leads to greater farmer total revenue, assuming demand for the foodstuffs is inelastic. D) b and c
The term ______________________ refers to the means used to determine how available goods and resources will be allocated.
a. positive economics b. marginal c. rationing device d. normative economics