As a general rule, zero pollution is not socially desirable because
A. there would be no production.
B. the Environmental Protection Agency (EPA) needs to have something to do.
C. no pollution would lead to global warming.
D. all of these answer options are correct.
A. there would be no production.
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Often people trying to withdraw money from their bank must wait in line, which reflects a ________ allocation method
A) first-come, first-served B) market price C) contest D) command
The reason that the production possibilities frontier is usually a bow-shaped curve instead of a straight line is that
a. it makes it easier to illustrate the concepts of scarcity and prices with a bow-shaped curve than it is with a straight line b. early economists began drawing them in this way and the convention has continued throughout the years c. output eventually reaches a maximum and then declines d. resources are not perfectly adaptable to the production of all goods e. the frontier will shift outward over time
Increasing marginal returns are generally the result of
a. diseconomies of scale b. increasing costs c. specialization and division of labor d. labor unions e. technology
Which of the following laws increased competition among financial institutions and gave the Fed greater control over nonmember banks?
a. The Federal Reserve Act. b. The Equal Credit Opportunity Act. c. The Monetary Control Act. d. The Thrift Bailout Bill.