As part of its proposal to win the 2012 Olympics, London developed a carbon offset plan to reduce the Games' impact on the environment. In 2011, the organizers decided to drop this plan to reduce emissions. We can conclude that

A) the marginal cost of reducing emissions exceeded the marginal benefits of reducing emissions.
B) the organizers are not making a rational decision.
C) the organizers are ignoring a sunk cost.
D) there are no incentives to reduce carbon emissions.
E) it is difficult to calculate the cost of reducing emissions.

A

Economics

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Total benefits minus total cost equals:

A. gross benefit. B. marginal benefit. C. net benefit. D. incremental benefit.

Economics

Some unemployment is unavoidable because ________.

A) many people in the working-age population attend school and are unemployed B) people are making transitions through the stages of life and businesses are making transitions C) often people become discouraged workers D) there is always some cyclical unemployment E) many part-time workers would like to have full-time work

Economics