The marginal social benefit of pollution is the incremental benefit to society from producing one more unit of pollution.
Answer the following statement true (T) or false (F)
True
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The marginal social benefit of air quality
a. declines as air quality increases b. rises as air quality increases c. remains constant as air quality increases d. first falls then rises as air quality increases e. is always negative
The breakdown of the Bretton Woods system occurred because
a. the world economy was basically unhealthy b. the collapse of world gold production undermined the operation of the system c. the dollar was undervalued d. the dollar was overvalued e. the ten richest countries in the world refused to cooperate any longer
In the circular-flow diagram,
a. firms are buyers in the markets for goods and services. b. households are sellers in the markets for the factors of production. c. firms are sellers in the markets for factors of production and in the markets for goods and services. d. dollars that are spent on goods and services flow directly from firms to households.
With modern sector enlargement growth, inequality will
a. first rise and then fall. b. first fall and then rise. c. remain about the same. d. All of the above.