The number of cattle slaughtered every year for meat far exceeds the number of elephants slaughtered every year for their ivory. Despite this, cows can be found everywhere while elephants are on the verge of extinction in some countries. Which of the following best explains this difference?
a. Cows can be privately owned while in many countries elephants can not.
b. The demand for ivory far exceeds the demand for beef.
c. Animals slaughtered for their meat are generally better conserved by humans than animals slaughtered for nonfood uses.
d. People tend to protest more every year to prevent cow extinction than they do for elephant extinction.
A
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In the U.S. in 2012 the percentage of the Americans living below the poverty line was about
A) 15 percent. B) 20 percent. C) 5 percent. D) 27 percent.
Firms in perfect competition have no control over
a. all of the following b. where to operate on their average total cost curves c. what price to charge d. how many inputs to use e. how much to produce
Which of the following combinations would unambiguously decrease the supply of money? a. The Fed pays a lower interest rate on bank reserves and increases the required reserve ratio
b. The Fed conducts an open market purchase of government securities and raises the discount rate. c. The Fed pays a higher interest rate on bank reserves and conducts an open market purchase of government securities. d. None of the above would unambiguously decrease the supply of money.
Charlotte can produce pork and beans and can switch between producing them at a constant rate. If it takes her 10 hours to produce a pound of pork and 5 hours to produce a pound of beans, what is her opportunity cost of pork and what is her opportunity cost of beans?