The optimal level of pollution is achieved when:
a. the marginal social benefit from decreased pollution is equal to the marginal social cost of reducing pollution.
b. the level of pollution reaches zero
c. pollution abatement exceeds the pollution level.
d. benefits from further pollution abatement are zero.
a
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Imagine that Wingate National is a new bank, and that the legal reserve requirement is 10 percent. If it accepts a $1,000 cash deposit, then, excluding the $1,000 initial deposit, the banking system can increase the money supply by
a. $900 b. $910 c. $1,000 d. $9,000 e. $10,000
The primary difference between commodity money and fiat money is that
a. commodity money is a medium of exchange but fiat money is not. b. fiat money is a medium of exchange but commodity money is not. c. commodity money has intrinsic value but fiat money does not. d. fiat money has intrinsic value but commodity money does not.
Which of the following best explains the closing gap between rural and urban mortality rates?
(a) Relatively higher incomes in urban areas (b) Relatively lower prices in urban areas (c) Medical advancements, health education, and public health and sanitation involvement (d) All of the above.
Most economic data are obtained
A) through randomized controlled experiments. B) by calibration methods. C) through textbook examples typically involving ten observation points. D) by observing real-world behavior.