Refer to the accompanying figure.
In the figure, a business cycle trough is shown by which point(s)?
A. A only
B. A and C and E
C. D only
D. B and D
Answer: B
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According to economists, if policymakers are serious about reducing fuel consumption, they need to implement policies that make drivers think carefully about the costs and benefits of every mile driven, and the best way to accomplish this is by
A) increasing the gasoline tax. B) raising mandatory fuel economy standards. C) converting all roads to toll roads. D) limiting the number of miles per year that each driver is allowed to drive.
Which is likely to be more elastic: the demand for orange juice or the demand for a particular brand of orange juice? Explain
What will be an ideal response?
Growth in GDP systematically understates the growth in national well being because
a. ecological costs are netted out of GDP. b. "bads" as well as "goods" get included in GDP. c. investment is not included in GDP. d. as a country gets richer, leisure time increases.
The MRP schedule of the imperfect competitor declines _____ than that of the perfect competitor.
Fill in the blank(s) with the appropriate word(s).