In producing a sweater, a man who shears sheep pays a farmer $4 for a sheep. The shearing shop sells the wool to a knitting mill for $7 . The knitting mill buys the wool and makes it into a fine fabric and sells it to a sweater-making firm for $13 . The sweater- making firm sells the sweater to a clothing store for $20, and the clothing store sells the sweater, gift wrapped, for $50 . What is the

Changes in all of the following shift the LM curve except

a. the price level. b. income. c. the money supply. d. money demand. e. all of the above shift LM curve.

It is generally easier to prevent deforestation than fishery collapse because:

A. it is easier to establish and enforce property rights on national lands than in international waters. B. there is greater incentive to have sustainable forests than sustainable fisheries. C. the demand for wood products has dropped significantly while the demand for fish has grown significantly.