A great deal of damage is done to the environment in the urban U.S. because
A) a system based on private property cannot provide for a common environment.
B) few people understand the economics of pollution.
C) many and perhaps most people assign little or no value to a pleasant environment.
D) the environment is treated as everyone's property and therefore as no one's property.
E) the United States has no central planning.
D
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Diminishing returns, so that each additional hour of labor employed produces successively smaller additional amounts of real GDP, exist because
A) additional workers are paid higher wage rates. B) labor is not very productive. C) extra labor produces more output. D) all other factors are held fixed. E) the price level rises as more workers are employed.
Explain how the Supplemental Security Income Program works
What will be an ideal response?