For the purpose of protecting the environment, upon which of the following approaches do we rely more and more as time goes by?
a. adherence to the notion of the invisible hand
b. command-and-control policies
c. the development and enforcement of regulations
d. the requirement that decision makers bear the full costs of their actions
d
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A risk averse person's utility of wealth curve has a
A) positive slope and becomes steeper to the right. B) positive slope and becomes flatter to the right. C) negative slope and becomes steeper to the right. D) negative slope and becomes flatter to the right.
Regulating firms so that they always receive a guaranteed profit rate will lead to greatest efficiency
a. True b. False Indicate whether the statement is true or false
Ruben earned a salary of $60,000 in 2001 and $80,000 in 2006 . The consumer price index was 177 in 2001 and 221.25 in 2006 . Ruben's 2001 salary in 2006 dollars is
a. $75,000; thus, Ruben's purchasing power increased between 2001 and 2006. b. $75,000; thus, Ruben's purchasing power decreased between 2001 and 2006. c. $85,000; thus, Ruben's purchasing power increased between 2001 and 2006. d. $85,000; thus, Ruben's purchasing power decreased between 2001 and 2006.
An American retailer sells dollars to obtain euros. It then uses the euros to buy ready-to-assemble furniture from Sweden. These transactions
a. increase U.S. net capital outflow because foreigners obtain U.S. assets. b. decrease U.S. net capital outflow because foreigners obtain U.S. assets. c. increase U.S. net capital outflow because the U.S. buys capital goods. d. decrease U.S. net capital outflow because the U.S. buys capital goods.