________ questions have to do with explanation and prediction; ________ questions have to do with what ought to be.

The Federal Reserve econometric model emphasizes the impact of the wealth effect on

A) consumption. B) government spending. C) business investment. D) exports.

A tradeoff exists between a clean environment and a higher level of income in that

a. studies show that individuals with higher levels of income actually pollute less than low-income individuals. b. efforts to reduce pollution typically are not completely successful. c. laws that reduce pollution raise costs of production and reduce incomes. d. by employing individuals to clean up pollution, employment and income both rise.