All of the following can be costs of environmental cleanup except
A. Layoffs of workers in polluting industries.
B. Scarce resources being used that then cannot be used to produce other goods.
C. Fewer hospital visits.
D. The replacement costs of machinery that causes pollution.
Answer: C
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Changes in the health of the average person are an important indicator of changes in the standard of living
Indicate whether the statement is true or false
Suppose a country imposes new restrictions on how many hours people can work. If these restrictions reduce the total number of hours worked in the economy, but all other factors that determine output are held fixed, then
a. productivity and output both rise. b. productivity rises and output falls. c. productivity falls and output rises. d. productivity and output fall.
Human capital is increased when a firm makes investments that raise workers' productivity.
A. True B. False C. Uncertain
an announcement that the "beginning stocks" of corn were higher than expected is an indication that:
a) prices would be expected to decrease more than previously expected b) prices would be expected to increase more than previously expected c) there is no effect on prices: stocks are unrelated to the level of future prices