Economists argue that the level of pollution should be
A) reduced completely to zero because by definition, it has a negative external effect.
B) ignored because it has always been present since the beginning of history.
C) best determined by elected officials who can speak on behalf of the public.
D) reduced to the point where the marginal benefit of pollution reduction is equal to the marginal cost of pollution reduction to society.
D
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The following is an example of adverse selection
a. A majority of those applying for well paid jobs are under qualified b. More reckless drivers opt for cars with fewer safety devices c. Individuals living in less secure neighborhoods want to buy less insurance d. Individuals with a strong family history of heart diseases opt to buy less insurance
Which of the following stands true for factors that affect changes in productivity across countries and over time?
a. It is more difficult to measure changes in the quality of goods than changes in the quality of services. b. As energy prices go up, energy-efficient capital goods become obsolete. c. It is believed that productivity grows more slowly in manufacturing industries than in services, because of the less labor-intensive nature of manufacturing industries. d. The key to efficient production is the allocation of resources to their best use. e. The greater the productivity, the more efficient the allocation of resources, and the less developed a country's financial market would be.