Empirical evidence indicates that
a. changes in the earth's cloud cover will clearly enhance the warming effects of carbon dioxide.
b. the increase in carbon dioxide, over thousands of years, is clearly the cause of global warming.
c. if global warming continues for another century, as most models forecast, the sea levels will clearly rise substantially, imposing costs much larger than the cost of preventing the warming.
d. the earth has warmed a little more than one degree Fahrenheit in the past century.
D
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Taxes may cause deadweight losses because __________.
A) they increase consumer surplus at the expense of producer surplus. B) they transfer purchasing power from buyers to the government. C) they transfer purchasing power from sellers to the government. D) they lower the surplus in the market.
If Rita's labor-supply curve is downward-sloping, then for Rita a. an increase in the wage creates an income effect that is greater than the substitution effect. b. an increase in the wage creates a substitution effect that is greater than the income effect. c. leisure and consumption are perfect substitutes
d. leisure and consumption are perfect complements.
Refer to Figure 5-16. What is the optimal quantity of street lights to install?
A) 3
B) 4
C) 6
D) 9
Refer to the given diagram and assumptions. If migration is costless and unimpeded, business income will:
(1) The demand for labor in Alphania and Betania are as shown by D A and D B ,
respectively; (2) Alphania's native labor force is F and that of Betania is g; (3) wage L in Alphania is equal to wage m in Betania; and (4) full employment exists in both countries.
A. decrease in Betania but increase in Alphania.
B. increase in Betania but decrease in Alphania.
C. decrease in both Alphania and Betania.
D. increase in both Alphania and Betania.