An economist would argue that global warming is
a. unquestionably a human-generated problem that should be stopped immediately at all costs.
b. simply fear mongering, for there is no scientific evidence that the average temperature on earth is changing.
c. likely to cause massive starvation as temperatures on earth rise, reducing agricultural productivity.
d. a serious issue that may best be addressed primarily by making changes as problems occur in the future.
D
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The primary manner in which the FTC settles an antitrust complaint is through
a. criminal trials b. cease-and-desist orders c. immunity from prosecution d. civil trials e. jail terms
Suppose that severe floods destroyed farms, homes, and businesses in the Midwest. Use the aggregate demand/aggregate supply model, to explain the changes you would expect to take place and the effects you would expect these floods to have on both output and prices. (Include both short-run and long-run effects.)