Although pollution is caused by a failure of the market, many economists believe that the best way to protect the environment is to utilize the price mechanism
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Refer to Figure 2-10. If the economy is currently producing at point A, what is the opportunity cost of moving to point B?
A) 46 thousand forks B) 60 thousand spoons C) 16 thousand spoons D) 12 thousand forks
Research estimates that the medical spending for obesity-related diseases was
a. About the same as for healthy individuals. b. Ironically, much less than for healthy individuals. c. about $86 billion. d. about 9.1% of total medical spending. e. both c and d.
Figure 10-9
Currently, the economy depicted in is in
a.
long-run equilibrium at point b.
b.
short-run equilibrium at point c.
c.
long-run equilibrium at point a.
d.
short-run equilibrium at point a.
In general, the demand for a product is more elastic in the long run than in the short run.
Answer the following statement true (T) or false (F)