Which of the following is an example of a trade-off?
a. Dev buys more cheese puffs than kale chips even though kale chips are healthier.
b. Lin decides to stop buying groceries from the local market because the prices are too high.
c. Khalil loves to drink a premium brand of sparkling water; to afford it, he buys cheaper toilet paper.
d. Nicole has to call a friend to remind her of which brand of kombucha is the healthiest and best tasting.
c. Khalil loves to drink a premium brand of sparkling water; to afford it, he buys cheaper toilet paper.
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An open capital market affects a nation's economic growth by
a. channeling capital into productive projects and away from wasteful projects. b. rewarding investors who find the most productive projects and invest in them. c. making the lowest-cost capital available from around the world. d. all of the above.
An example of the command-and-control approach to environmental policy is:
A. placing a tax on freon to reduce its use and the corresponding CFC emissions (which contribute to the ozone hole). B. requiring car producers to install new air conditioners that do not use freon. C. allowing coal producers to buy and sell permits to allow CFC emissions. D. allowing individuals to sue freon producers if CFC emissions exceed a government-set standard.
If the supply of labor ________, real wages fall and the amount of labor employed ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
The period of declining growth in real GDP between the peak of the business cycle and the trough is called the
a. contractionary phase. b. boom. c. expansionary phase. d. stationary phase.