Current income minus spending on current needs equals:

Which of the following will be categorized as an intermediate good in national income accounting?

a. The value of oregano used as a seasoning for pizzas b. The crops consumed by a farmer's family members c. The present value of a car produced a couple of years ago d. A clunker sold during the current year e. The value of an antique piece of jewelry handed down over generations in a family

The opportunity cost of slowing global warming by reducing carbon dioxide emissions is

a. extremely high because policies that would significantly reduce emissions will adversely affect economic growth. b. insignificant compared to the probable impact of warming from those emissions. c. irrelevant because each aspect of the environment is important enough to justify full protection from environmental change, at whatever cost is necessary. d. zero because fuel cost savings alone will offset all opportunity costs.