Opportunity costs arise from
A) choices.
B) poverty.
C) mistakes.
D) income inequality.
Answer: A
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The management of money and interest rates is called ________ policy and is conducted by a nation's ________ bank
A) monetary; superior B) fiscal; superior C) fiscal; central D) monetary; central
If the MPS = 0.25, and intended investment falls from $100 to $75, national income will decrease by
a. $25 b. $75 c. $150 d. $125 e. $100
Answer the following statement(s) true (T) or false (F)
1. Municipal solid waste includes nonhazardous and hazardous wastes disposed of in local communities. 2. According to available U.S. trend data, the number of landfills in the country has been increasing since 1960. 3. In the United States, the composition of MSW is categorized both by materials and by products. 4. The highest proportion of products in the MSW stream is consumer electronics. 5. One of the fastest growing segments of the MSW stream is plastics.
The long-run supply curve for a competitive industry
a. may be horizontal if entry into the industry lowers average total cost. b. may be upward-sloping if higher-cost firms enter the industry. c. will be horizontal if there is free entry into the industry. d. will be upward-sloping if there are barriers to entry into the industry.