Discuss the role of individuals and governments in committing environmental damage
Private individuals and government are major contributors to environmental damage.
Individual car owners are responsible for much of the air pollution in cities. Wood-burning stoves and fireplaces are a source of particulate pollution (smoke). Wastes from flush toilets and residential washing machines also cause significant harm.
Governments, too, add to the problem. Municipal treatment plant wastes are a major source of water pollution. Military aircraft expel exhaust fumes and cause noise pollution. Obsolete atomic materials and by-products associated with chemical and nuclear weapons are among the most dangerous of all wastes. Governments have also constructed giant dams and reservoirs that flooded farmlands and destroyed canyons.
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What is the substitution effect of a wage increase? What is the income effect of a wage increase? Explain under what conditions the labor supply curve will be upward sloping and when it will be downward sloping
What will be an ideal response?
Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels. c. The price level remained constant during this period. d. Major wars resulted in high inflation rates, after which the inflation rate tapered off. e. Major wars resulted in high inflation rates that were usually followed by deflation.