Which of the following goods is most likely to be overconsumed?
A. Water from a reservoir
B. Horses on a ranch
C. Chickens on a farm
D. Fish in the ocean
Answer: D
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One way for the government to eliminate a negative externality is to
A) charge an emissions fee. B) set an emissions standard. C) levy an effluent charge. D) All of the above.
Define an economy. Illustrate with an example that the economic life of every individual is interconnected
If the net public debt expanded last year, then which of the following most likely occurred during the year?
A) The government's budget was balanced.
B) The government's tax collections exceeded its spending.
C) The government experienced a budget surplus.
D) The government experienced a budget deficit.
If the world supply curve is SW1,
A. trade is in balance. B. there is a trade deficit. C. there is no trade. D. there is a trade surplus.