Which of the following is TRUE?
A) India is the world's largest democracy.
B) India began reforming and opening its economy prior to China.
C) At the end of the twenty-first century, China will have a larger population than India.
D) India has a larger population than China currently.
E) India has a larger manufacturing sector than China.
A
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If markets are left to their own devices, the ________ a good or service is desired by buyers, the ________ its price will be
A) more; higher B) more; lower C) less; higher D) less; more unstable
In the above figure, the monopsony wage rate is ________ and the quantity of labor is ________
A) $7.00; 150 hours B) $8.00; 200 hours C) $6.00; 100 hours D) $8.00; 100 hours
Economists tend to believe the most efficient way to induce environmental protection is through
a. standards that control economic activities b. government provision of environmentally sensitive goods and services c. market-based incentives such as taxes and subsidies d. economic planning e. none of the above
Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. 
Figure 16.1 Refer to Figure 16.1. What is the total damage imposed as a result of producing the market (unregulated) level of fertilizer?
A. $250 B. $300 C. $500 D. $600