Voluntarism as an approach to environmental problems
a. has no place at all in solving the problems.
b. is quite successful in reducing pollution.
c. is more effective than first meets the eye.
d. often has proved weak and unreliable.
d
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Which of the following is true regarding scarcity?
a. Scarcity could be eliminated if all economies of the world would work together to solve world hunger. b. Scarcity could be eliminated if we had full employment. c. It is impossible to eliminate scarcity, given limited resources and unlimited wants. d. Scarcity could be eliminated if all economies of the world would adopt communism. e. Scarcity could be eliminated if all economies of the world would adopt a free market system.
If the Fed had not changed the money supply after the recession in the early 1990s, then the long run effects would have been
a. a return to the original output and price level b. increased long run GDP equilibrium and price level c. unchanged long run output, but an increased price level d. a decreased long run output and price level e. a return to the original long run output, but a decreased price level