In the case of global pollution, a nation that pollutes gets benefit from production but:
a. has to pay for it in terms of dirty air and water.
b. never receives any negative consequences.
c. cannot control the amount of pollution by private firms.
d. will not suffer the full costs of its own pollution and so has little incentive to control it.
Ans: d. will not suffer the full costs of its own pollution and so has little incentive to control it.
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Gross domestic product equals the sum of
a. all income earned by domestic producers of goods and services minus indirect business taxes and depreciation during the year. b. the purchases of final goods and services produced domestically during a year. c. the amount received by firms for consumer goods and services. d. incomes received by households minus the sale of factor services supplied domestically.
When the public expects inflation, real and nominal rates of interest will be the same.
Answer the following statement true (T) or false (F)