The ________ hypothesis claims that differences in natural environment such as climate, and ecology are ultimately responsible for the major differences in prosperity observed around the world

The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. What is the efficient quantity of steel?

A) 0 tons B) 2 tons C) 4 tons D) 8 tons

Politicians often highlight the plight of a single individual as a reason to support a particular project or agenda. In this case, politicians are often engaged in

A) the Allais effect. B) the Byrd effect. C) framing. D) prospect theory.