Since 1945, national defense expenditures as a percentage of GDP have _____
a. fallen from 41 percent to 3.7 percent
b. fallen from 32.1 percent to 20.1 percent
c. fallen from 62.3 percent to 11.5 percent
d. fallen from 50.5 percent to 9.6 percent
a
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The substitution effect of an increase in the price of peaches is
A) the change in the quantity of peaches demanded that results from the effect of the change in the price of peaches on the consumer's purchasing power. B) the change in the demand for nectarines (a substitute good) that results when peaches become more expensive relative to nectarines, holding constant the effect of the price change on consumer purchasing power. C) the change in the demand for peaches that results when the price of peaches increases. D) the change in the quantity demanded that results from a change in the price of peaches, making peaches more expensive relative to other goods, holding constant the effect of the price change on consumer purchasing power.
As you move rightward on a marginal cost of abatement curve, emissions are
A) falling, and the cost of eliminating the marginal unit falls. B) rising, and the cost of eliminating the marginal unit falls. C) falling, and the cost of eliminating the marginal unit rises. D) rising, and the cost of eliminating the marginal unit rises. E) rising, and the cost of eliminating the marginal unit is constant.