At what average annual rate has real GDP and real GDP per capita, respectively, grown from 1950 to 2012?
A. 7.5 percent and about 5 percent
B. 3.1 percent and about 2 percent
C. 5.1 percent and about 3 percent
D. 1.1 percent and about 0.5 percent
B. 3.1 percent and about 2 percent
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When conducting cost-benefit analysis, it is important to ignore previously incurred costs and previously received benefits
Indicate whether the statement is true or false
Corrective taxes are generally more efficient than regulatory mandates keeping the environment clean
a. True b. False Indicate whether the statement is true or false
What might happen to a county's economy and standard of living without property rights?
A. Increase because people will be producing more goods and services B. Stay the same C. Increase because there are more inventive to produce goods and services D. Decrease because there are fewer incentives to produce goods and services
Which of the following companies would benefit the most from a carbon tax?
A. A trucking company B. A coal mining equipment manufacturer C. A producer of wind turbines D. An oil company