Giving up one alternative for another is called ____________ .
a. underutilization.
b. a trade-off.
c. human capital.
d. efficiency.
Ans: b. a trade-off.
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Sustainable development implies that succeeding generations preserve the value of
a. natural capital b. physical investment c. all natural resources d. human capital e. none of the above
What is one reason drunk driving is held in such disrepute?
A) Drunk driving imposes high potential costs on non-drunk drivers. B) Drunk driving destroys cars and telephone poles, causing disruption in essential services. C) Only drunk drivers cause automobile fatalities. D) Drunk drivers impose high potential costs on other drunk drivers.
Which group believes that business cycles are unreal?
a. external cycle theorists b. internal cycle theorists c. real business cycle theorists d. housing cycle theorists e. innovation cycle theorists
A graphical plot of consumption expenditures against disposable income for the US over the past 20 years shows
a) no apparent relationship between consumption and disposable income b) consumption remaining roughly constant as disposable income rises c) consumption falling as disposable income rises d) consumption rising as disposable income has fallen e) consumption rising almost proportionately as income rises