Which international meeting resulted in the first major global environmental treaty, convincing many skeptics that such cooperation was indeed possible?
a. the Copenhagen Convention
b. the Stockholm Declaration
c. the Montreal Protocol
d. the Kyoto Protocol
c. the Montreal Protocol
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Accounting profit is equal to?
A. Total revenue minus the explicit cost of producing goods and services. B. Total revenue minus the opportunity cost of producing goods and service. C. Average revenue minus the average cost of products the last unit of a good or service. D. Marginal revenue minus marginal cost. E. Total revenue minus depreciation.
The liquidity trap is the _____ section of the demand curve for money.
A. flat section of the speculative B. flat section of the precautionary C. vertical section of the speculative D. vertical section of the precautionary
Bank depositors will not lose their deposits in a banking panic if:
A. there is 100% reserve banking. B. there is fractional reserve banking. C. there is a central bank. D. the actual reserve/deposit ratio equals the desired reserve/deposit ratio.
The Department of Commerce sums the payments made to resources to arrive at GDP in the form of compensation of employees, rents, profits, net interest, indirect taxes, and depreciation. This method of deriving GDP is called the:
A. opportunity cost approach. B. income approach. C. expenditure approach. D. monetarist approach.