Answer the following statement true (T) or false (F)
1) A British thermal unit is the amount of energy required to raise the temperature of one liter of
water by one degree Celsius.
2) The average person in the United States generates about 10 pounds of trash per day.
3) The United States produces more than twice as much output per million BTUs of energy
consumed than it did in 1950.
4) Increases in U.S. living standards have matched increases in per capita energy use.
1) F
2) F
3) T
4) F
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Alchemy was the attempt to discover a process by which base metals, such as lead, could be turned into gold. If an alchemist had been successful,
A) all the lead in the world would have been added to the world's gold supply. B) all the lead in the world would have replaced the world's gold supply. C) all the lead in the world would only have been added to the world's gold supply when it was converted to gold. D) the alchemist would likely have been killed by the owners of real gold.
In order for a monopolist to earn an economic profit in short-run equilibrium, marginal revenue must be equal to zero
a. True b. False Indicate whether the statement is true or false