CO2 emissions are a
A. Problem for rich nations only.
B. Global externality.
C. Global private cost.
D. Problem for poor nations only.
Answer: B
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To answer the next question, use the following graph showing the domestic demand and supply curves for a specific standardized product in a particular nation.
If the world price for this product is $0.50, this nation will experience a domestic
A. shortage of 160 units, which it will meet with 160 units of imports. B. surplus of 160 units, which it will export. C. shortage of 160 units, which will increase the domestic price to $1.60. D. surplus of 160 units, which will reduce the world price to $1.00.
In an open market purchase, the Fed ________ government securities, which ________ bank reserves and ________ the federal funds rate
A) sells; increases; lowers B) buys; increases; raises C) buys; increases; lowers D) buys; decreases; raises E) sells; decreases; lowers
Moving along a country's PPF, a reason opportunity costs increase is that
A) unemployment decreases as a country produces more and more of one good. B) unemployment increases as a country produces more and more of one good. C) technology declines as a country produces more and more of one good. D) some resources are better suited for producing one good rather than the other. E) technology must advance in order to produce more and more of one good.
The signals that guide the allocation of resources in a market economy are
a. surpluses and shortages. b. quantities. c. government policies. d. prices.