If Italy's real GDP fell from $2.2 trillion one year to $1.9 trillion the next, the annual growth rate would be:

Critics of the "limits to growth" thesis argue that:

A. clean air and water is a luxury good and the more economically developed a country becomes the easier it will be to keep the environment clean. B. economic growth will always take the form of more of what we have now, rather than newer, better, and cleaner goods and services. C. the market is not capable of adjusting to shortages of resources. D. government action spurred by political pressure is the best way to avoid the depletion of natural resources and pollution of the environment that results from economic growth.

A perfectly elastic demand curve

A. has a slope of -1. B. shows that a slight change in income will lead to a large reduction in price. C. shows that a slight increase in price will reduce quantity demanded to zero. D. is a vertical line drawn across from the quantity axis.