In Africa, which of the following policies has been most successful at increasing elephant populations?
a. Banning the ivory trade by making the buying and selling of ivory illegal.
b. Making elephants the common property of the people of the country through government ownership and control and making the killing of elephants illegal
c. Allowing private ownership of elephants and making the ivory trade legal
d. When used together, the policies in a and b have been more successful than the policy in c.
C
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To be effective, countercyclical fiscal policy must be temporary
a. True b. False
Economists argue that unhindered international trade leads to an efficient outcome. What is meant by "an efficient outcome" in this context?
A) an outcome in which wages are roughly equal around the world B) an outcome in which the standard of living is roughly equal around the world C) an outcome in which an individual can choose to specialize in a certain line of work and be certain that he or she can make a living at that until retirement D) an outcome in which resources are devoted to their most efficient use
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Which of the following is not a result of imposing a rent ceiling?
A) Some consumer surplus is converted to producer surplus. B) There is a reduction in the quantity of apartments supplied. C) There is an increase in the quantity of apartments demanded. D) The marginal benefit of the last apartment rented is greater than the marginal cost of supplying it.