New smartphone applications are developed to help consumers find the cheapest prices in the neighborhood. Therefore,
A) the local competitive will become more intensive.
B) the prices of goods listed in the application will be lowered.
C) price discrimination will occur against consumers without a smartphone or this application.
D) All of the above.
D
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As the relative price of a good falls, the substitution effect implies that people buy
A) less of that good and more of its substitutes. B) more of that good and less of its substitutes. C) less of that good and less of its substitutes. D) more of that good and more of its substitutes.
According to proponents of an environmentally-adjusted measure of a nation’s macroeconomic performance
a. GDP fails to properly capture the effects of environmental pollution b. GDP appropriately accounts for natural resource depletion c. the international community does not support environmental accounting d. the guidelines outlined in the SEEA of 2003 are meaningless