Empirical studies suggest that as real GDP per person increases the level of pollution:
A. decreases.
B. remains constant.
C. first increases then decreases.
D. increases.
Answer: C
Economics
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The cross elasticity of demand is a measure of how
A) responsive consumers are to changes in the price of a product. B) responsive suppliers are to changes in the price of a product. C) demand for a product changes when the price of a substitute or complement changes. D) total revenue changes when the price of a product changes. E) demand for a product changes when income changes.
Economics
An example of a transfer payment is
A) a welfare payment. B) a paycheck for a member of the National Guard. C) a purchase of a new bridge in Alaska. D) a teacher's paycheck.
Economics