Which of the following statements is incorrect about Eastern Europe and the countries of the former Soviet Union?
A. Grave environmental problems plague Eastern Europe.
B. The area suffers from widespread illness and countless premature deaths.
C. The Aral Sea, once the world’s fourth-largest inland sea, is now half its previous size.
D. Environmental policies set by the United States became the foundation of their new environmental rules.
Answer: D
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Label each of the entries in the list as a positive or a normative statement
What will be an ideal response?
Suppose there are 11 buyers and 11 sellers, each willing to buy or sell one unit of a good, with values {$14, $13, $12, $11, $10, $9, $8, $7, $6, $5, $4,}. Assume no transaction costs and a competitive market, what is the equilibrium price in this market?
a. 7 b. 8 c. 9 d. 10
If there are many suppliers of an input a firm is more likely to produce it internally than to purchase it in the market
Indicate whether the statement is true or false
Refer to the diagram where curves (a) through (e) are Lorenz curves for five different countries. Income is equally distributed in:
A. none of the countries shown.
B. country b.
C. countries a and e.
D. country a.