GDP includes
the cleanup expenses associated with pollution
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Natural monopolies in the United States are generally regulated by
A) the Department of Commerce. B) the Federal Trade Commission. C) local or state regulatory commissions. D) the Department of Justice.
There are a number of "trade-offs" in economics. The production possibilities curve depicts the trade-off between producing one set of goods and another, such as consumption and capital goods. The trade-off between inflation and unemployment is yet another and is depicted by the
a. Laffer curve b. aggregate supply curve c. Phillips curve d. aggregate demand curve e. Keynesian curve
if the entire output of a market is produced by a single seller, the firm:
A.) Is a monopoly. B.) Is competitive. C.) Is an oligopolist. D.) Faces a perfectly vertical demand curve.
Compare and contrast the modern view of technological advance with the traditional view
What will be an ideal response?