In the process of reducing pollutants in our environment, we are
A) achieving a cleaner environment at no real cost.
B) causing higher levels of unemployment.
C) reallocating resources in an inefficient manner.
D) trading off less of other goods and services for a cleaner environment.
Answer: D
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In the above, which figure(s) show(s) a relationship between the variables that is always negative?
A) Figure A only B) Figure D only C) Figures A and C D) Figures A, C, and D E) Figure B only
Over the 1980 and 1990s, countries that were given large amounts of aid:
A. experienced growth of 1 percent regardless of the policy in place. B. saw GDP shrink by 1 percent regardless of the policy in place. C. saw GDP shrink by 1 percent even if they had sound policy in place. D. experienced mixed impacts on their GDP growth.
During George W. Bush's presidency
A. the job market was quite robust. B. The United States' federal budget deficit hit a record high. C. the federal budget surpluses in the last years of the Clinton presidency continued. D. we experienced a very high inflation rate.
The formal definition of price elasticity of demand is
A) change in quantity demanded divided by change in price. B) quantity demanded divided by price. C) percentage change in quantity demanded divided by percentage change in price. D) quantity demanded multiplied by price and divided by 100.