Proponents of economic growth claim that rising living standards can lead to environmental improvements as people can afford to care more about the environment.
a. true
b. false
Ans: a. true
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A homeowner making a mortgage payment is paying
A) a sunk cost which is consequently not a genuine cost at all. B) the cost of borrowing to purchase the house. C) the cost of constructing the house. D) the cost of purchasing the house. E) the cost of retaining ownership of the house.
If the fiscal year begins without a budget and Congress fails to pass a continuing resolution, then:
a. the federal government shuts down. b. the interest rate paid on the national debt automatically increases. c. federal agencies operate on the basis of the previous year's budget. d. the president has the right to raise the debt ceiling.
Major macroeconomic issues include differences across countries in all of the following EXCEPT:
A. economic growth rates. B. inflation rates. C. infant mortality rates. D. unemployment rates.
(Consider This) According to the Coase theorem:
A. government should levy excise taxes on firms that generate spillover or external costs. B. taxes should be levied such that they change private behavior as little as possible. C. private individuals can often negotiate their own resolution of externality problems, without the need for government intervention. D. private firms should not provide public goods.