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
a. GDP fails to properly capture the effects of environmental pollution
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In which case is total expenditure in an economy NOT equal to total income?
A. if total saving is larger than total investment B. if net exports are not zero C. if inventory investment is negative D. None of the answers is correct—they are always equal.
Assume that the demand curve for sunblock is linear and downward sloping. Which of the following statements about the slope of the demand curve for sunblock and the price elasticity of demand for sunblock are true?
A) The slope is constant, but the price elasticity of demand is not constant at all points along the demand curve for sunblock. B) The slope of the demand curve for sunblock is constant and equal to zero; demand is perfectly inelastic. C) The slope is not constant, but the price elasticity of demand is constant at all points along the demand curve for sunblock. D) The slope and the price elasticity of demand are constant at all points along the demand curve for sunblock.