Depletion of tropical rainforests is an example of
a. a negative externality
b. the use of variable technology
c. adverse selection
d. the use of fixed technology
e. a clearly defined property right
A
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Which of the following are capital goods?
a. land and raw materials b. all manufactured goods c. automobiles and houses d. factories and machinery e. all goods consumed by both firms and households
A common explanation for the behavior of the short-run U.S. Phillips curve in 2009 and 2010 is that, over the previous 20 or so years, the Federal Reserve had
a. established a lot of credibility in its commitment to keep inflation at about 2 percent. b. established a lot of credibility in its commitment to keep inflation at about 5 percent. c. failed to establish significant credibility in its announced intent to keep inflation at about 2 percent. d. failed to establish significant credibility in its announced intent to keep inflation at about 5 percent.