Since World War II,
a. air pollution has worsened in most U.S. cities.
b. many new pollutants have been introduced or identified.
c. the federal government has reduced its reliance on economic incentives as a means of reducing pollution.
d. All of the above are correct.
b
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The range of output for a duopoly ranges between the
A) perfectly competitive outcome and the monopolistically competitive outcome. B) efficient scale and the perfectly competitive outcome. C) minimum of ATC and the efficient scale. D) monopoly outcome and the perfectly competitive outcome. E) short-run perfectly competitive outcome and the long-run perfectly competitive outcome.
In the above figure, if the real interest rate is 8, there is
A) underproduction in this economy. B) a surplus of loanable funds. C) a shortage of loanable funds. D) a shortage in available funds for investment.
In the long run, money demand and money supply determine
a. the price level and the real interest rate. b. the price level but not the real interest rate. c. the real interest rate but not the price level. d. neither the price level nor the real interest rate.
Explain why the Fisher equation is not highly accurate at high rates of inflation. Use an example.
What will be an ideal response?