Which of the following was an important reason why the United States did NOT sign the Kyoto Protocol?
a. It believed that exemptions for some of its major developing country trading partners (such as China and India) were unfair.
b. It believed that Europe's targets were set ridiculously low.
c. It believed that pollution does not cause global warming.
d. It believed that targets for some of its major developing country trading partners (such as China and India) were too low.
Ans: a. It believed that exemptions for some of its major developing country trading partners (such as China and India) were unfair.
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Which of the following properties can be associated with an indifference curve of a risk-averse investor?
a. Indifference curve for a risk-averse investor is a vertical line parallel to the variance axis. b. Two indifference curves can intersect at the equilibrium combination of risk and return. c. An indifference curve closer to the expected return axis gives a better utility than the one farther away. d. Indifference curve for a risk-averse investor is always downward sloping.
Economists began carefully calculating GDP
a. simply because the data was available b. to determine the contribution of specific firms to the economy c. as a result of the problems during the Great Depression d. to make sure that firms were being productive e. to gain insight into the causes of unemployment