Deforestation is occurring in tropical areas because
a. long-run economic considerations outweigh short-run considerations
b. global economic considerations outweigh domestic considerations
c. tropical soil is good for growing farm crops
d. the value of jobs created by deforestation exceeds the cost to society
e. there is no property right to the earth's climate
E
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In September of 2000, the Federal Reserve Bank of New York sold dollars in exchange for euro. To keep the federal funds rate on target, the Open Market desk:
A. bought dollars. B. bought U.S. Treasury bonds. C. sold dollars. D. sold U.S. Treasury bonds.
Why is national defence provided by the government?
a) Free riders make it difficult for private markets to supply the socially optimal quantity. b) It is impossible for private markets to produce public goods. c) If the good were produced in private markets, most likely too much of the good would be produced. d) Products provided by the government can be produced more efficiently.
The relative costs of two goods produced by two countries can be determined by comparing the ________ of their ________.
A) slopes; supply curves B) prices; domestic production C) slopes; production possibilities curves D) their absolute efficiencies; production
Suppose that the price elasticity of demand for bagels is 1.60, a 10% increase in price will decrease the quantity demanded by 6%.
Answer the following statement true (T) or false (F)