The "principle of rival consumption" applies to which of the following?
A. national defense
B. the exclusion principle
C. a private good
D. the free-rider problem
Answer: C
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The relationship between the level of income and investment spending is known as the consumption function
Indicate whether the statement is true or false
Increases in ________ typically lead to decreases in consumption
A) the interest rate B) disposable income C) autonomous consumption D) all of the above E) none of the above
Answer the following statement(s) true (T) or false (F)
1. The RCRA Amendments of 1984 continued to promote land disposal for hazardous wastes. 2. Identification of hazardous wastes under the law relies on risk-benefit analysis. 3. Standards on treatment, storage, and disposal facilities (TSDFs) are set to achieve allocative efficiency. 4. The land restrictions may act to provide an incentive to reduce hazardous waste generation. 5. A waste-end charge is a fee based on the quantity of waste generated that is imposed at the time of disposal.
If average labor productivity increases while population and the number of employed workers remain constant, then total output:
A. decreases. B. may increase or decrease. C. remains constant. D. increases.