Answer the following statement(s) true (T) or false (F)
1. Proposals have been submitted to phase down HFCs, a CFC substitute, because they are greenhouse gases contributing to climate change.
2. The “greenhouse effect” is a natural phenomenon.
3. Climate change and global warming are exactly the same phenomenon.
4. Oceans and forests act as natural carbon sinks, which can absorb the anthropogenic releases of CO2.
5. Scientific evidence supports the assertion that human activity is adding to the accumulation of greenhouse gases and therefore contributing to global warming.
1. True
2. True
3. False
4. True
5. True
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The income and living standards of a nation will increase when
a. jobs are protected and total employment expands. b. the prices of goods and services increase. c. the imports of goods and services fall. d. the availability of goods and services that people value increases.
When consumers are less confident about their jobs or incomes, they are more likely to
A) reduce purchases of durable goods than nondurable goods. B) reduce purchases of nondurable goods and increase purchases of durable goods. C) increase investment spending and decrease consumption spending. D) increase consumption spending and decrease investment spending.
Steve sells hotdogs from a vending cart downtown. The table above shows his daily total revenues at four different prices. Between which two prices is the demand for hotdogs
a. elastic? b. unit elastic? c. inelastic?
The practice by telephone companies of charging lower long-distance rates at night than during the day is an example of:
a. inverted block pricing b. second-degree price discrimination c. peak-load pricing d. first-degree price discrimination e. none of the above