Which of the following activities create a negative externality?
A) cleaning up the sidewalk on your block
B) graduating from college
C) keeping a junked car parked on your front lawn
D) repainting the house you live in to improve its appearance
C
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Proved reserves of tin have declined since 2000 . but the price of tin has fluctuated for the past six decades, with no obvious upward or downward trend. This indicates that
a. the world will run out of tin in a few years because the proved reserves have fallen. b. short-term rises in demand and/or declines in the supply of tin have occurred over time, but there is no reason to worry about running out of this resource in the foreseeable future. c. the demand for tin has been rising and the world will run out of tin in the future unless there is a reversal of this trend. d. the market price of tin will rise as miners discover more tin.
The country of Bienmundo does not trade with any other country. Its GDP is $30 billion. Its government purchases $5 billion worth of goods and services each year and collects $6 billion in taxes. Private saving in Bienmundo amounts to $5 billion. What are consumption and investment in Bienmundo?
a. $17 billion and $8 billion, respectively. b. $19 billion and $6 billion, respectively. c. $19 billion and $8 billion, respectively. d. $17 billion and $6 billion, respectively.