If a sawmill creates too much noise for local residents,
a. noise restrictions will force residents to move out of the area.
b. a sense of social responsibility will cause owners of the mill to reduce noise levels.
c. the government can raise economic well-being through noise-control regulations.
d. the government should avoid intervening because the market will allocate resources efficiently.
c
Economics
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In the calculation of a country's GDP per capita, the entire population of the country is included, irrespective of age
a. True b. False Indicate whether the statement is true or false
Economics
The idea that people will substitute cheaper commodities for more expensive commodities is called
A. the marginal effect. B. the utility effect. C. the substitution effect. D. the real-income effect.
Economics