The burning of fossil fuels may cause global warming. Considering both the science and the reactions of crops, human health, and other factors across differing climates, economists generally agree that
a. to protect the interests of future generations, the buildup of carbon dioxide must soon be stopped.
b. any climate change, if it actually occurs, will be extremely costly.
c. there will be both costs and benefits if the climate warms.
d. all people will be worse off if the climate warms.
C
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
The theory that explains the shift in the production of color TV sets from the United States to Japan and Taiwan is called the _____ theory
a. productivity difference b. factor abundance c. product life cycle d. preference e. human skills
One of the problems with a strict monetary policy rule that sets a constant growth rate for the money supply is that when there are large shocks to the economy, the growth rate of _______, causing real GDP growth to slow down.
A. the average price level can fall B. the average price level can rise C. the velocity of money can fall D. the velocity of money can rise
Which assumption leads to an efficient allocation of resources among firms?
A. Firms behave so as to minimize their profits. B. Factor markets are open and competitive. C. All firms pay different prices for identical inputs. D. All of the above are correct.