Land is an example of a renewable resource
Indicate whether the statement is true or false
TRUE
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Elected government officials seem biased toward favoring
A) the national interest. B) the global interest. C) well organized, special interest groups. D) policies that are in the long-run interest of economists.
Economists consider environmental pollution to be a(n)
A. externality. B. pure public good. C. allocatively efficient outcome. D. public interest outcome.
The deposit multiplier is given by the formula
A) change in checkable deposits ÷ change in required reserves. B) change in checkable deposits ÷ change in reserves. C) change in excess reserves ÷ change in checkable deposits. D) change in legal reserves ÷ change in excess reserves.
A valid rationale for the decision NOT to include non-compensated housework in Gross Domestic Product (GDP) calculations is that
A. there is some difficulty in measuring quality and quantity. B. it would decrease the employment rate for domestic work. C. it is not a product or service. D. it would understate the value of production in the economy.