Air pollution is more dangerous to the public, but toxic waste generates more public uproar. Why?
a. Those exposed to the health hazard posed by the toxic waste site are usually less sure that exposure has occurred.
b. Those exposed to the health hazard posed by the toxic waste site are usually more sure that exposure has occurred.
c. Fewer people cause air pollution than toxic waste.
d. Fewer people are affected by air pollution than by toxic waste.
e. Toxic waste causes more illness and death than air pollution does.
B
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Which of the following is the best definition of economic growth?
A) the opportunity cost of capital B) the sustained expansion of production possibilities C) the investment in capital and consumption goods by an economy D) increased development of land and entrepreneurship E) the opportunity cost of consumption
If a quota is imposed on imports of shrimp into the United States, U.S. consumers ________ and U.S. producers ________
A) gain; gain B) lose; gain C) gain; are unaffected D) lose; lose E) gain; lose
Currency outside of banks increases from $100 million to $200 million. This change is considered
A) a currency drain. B) a decrease in the monetary base. C) expansionary monetary policy. D) contractionary monetary policy.
Refer to Figure 4-8. What is the value of consumer surplus after the imposition of the ceiling?
A) $120,000 B) $230,000 C) $270,000 D) $430,000