Answer the following statement(s) true (T) or false (F)
1. Sustainable development refers to the management of the earth’s resources to ensure their quality and abundance for future generations.
2. Nobel Laureate Robert Solow argues that sustainable development is a good concept to guide national policy.
3. The shape of the Environmental Kuznets Curve reflects the theory that advanced levels of industrial development are linked to higher levels of pollution.
4. According to the textbook application, the pessimistic view about the shape of the Environmental Kuznets Curve is that, after a critical income level, a country can only maintain its existing pollution level.
5. Agenda 21 and the Rio Declaration are two major documents produced from the Rio Summit in 1992.
1. True
2. False
3. False
4. True
5. True
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Which of the following is a statement with positive economic analysis?
A) Lower wages increase employment and reduce the unemployment rate. B) Slower money growth reduces inflation. C) A reduction in the size of the budget deficit will reduce interest rates. D) all of the above
Mika withdraws $100,000 from her trust fund to start up her own manicure business. The trust fund earns 4 percent interest. In order to properly account for all costs of her business, Mika must not forget:
A. the explicit cost of $4,000. B. the implicit cost of $4,000. C. the implicit cost of $104,000. D. the explicit cost of $104,000.