If land is reallocated or switched from agricultural use to recreational use, then it is likely that
A. the demand curve for land in the agricultural industry is shifting to the right.
B. the demand for food is less today than in previous decades.
C. food is not as important as recreation.
D. land earns a higher rent in recreational use than in agricultural use.
Answer: D
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The argument that developing countries with lax environmental standards will attract foreign manufacturers who want to escape stricter standards in their own countries is known as
A) the pollution havens hypothesis. B) the escape clause hypothesis. C) the earth destruction hypothesis. D) the environmentally destructive hypothesis.
Under the unified Euro regime, the European countries control
A) fixed exchange rate only. B) monetary policy oriented toward domestic goals only. C) freedom of international capital movements only. D) monetary policy oriented toward domestic goals and freedom of international capital movements. E) fixed exchange rate and freedom of international capital movements.