Increases in the stock of capital are the result of decreases in
A) net investment. B) depreciation. C) gross investment. D) all of the above.
B
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In graphical form, the presence of an external benefit that is ignored by consumers can be shown as
A) a market demand curve to the left of the market demand curve for which the consumers take the external benefit into account. B) a market demand curve to the right of the market demand curve for which the consumers take the external benefit into account. C) a market demand curve the same as the market demand curve for which the consumers take the external benefit into account. D) the absence of a market demand curve.
Overfishing in the ocean often
a. is easily solved by shortening the fishing season. b. is not caused by better technologies, which today's fishers would not use if they harmed the resource. c. occurs only when regulators fail to regulate due to corruption. d. is caused by many boats racing to catch more fish in a very short season.