A movement from point C to point A in Figure 1.4 results in
A. A reallocation of resources from television production to smartphone production.
B. More efficient production.
C. A reallocation of resources from smartphone production to television production.
D. Permanent unemployment of workers producing plasma televisions.
Answer: A
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Transborder environmental impacts can take place when one country's pollution spills over into a second country in all of the following situations EXCEPT
A) when an upstream user pollutes a shared watershed. B) when industrial production in one country creates acid rain in another country. C) when heavy traffic between two or more countries creates semi-global warming. D) the production of exported products degrades the local environment. E) ozone depletion caused by many countries' pollution spills or emissions.
When investors invest in something simply because everyone else is doing it, they are:
A. leveraging market performance for their own gain. B. suspect to "tulip mania." C. acting objectively on full information available in the market. D. following a "herd instinct."