Critics argue that society is depleting its energy resources far too quickly. The most likely explanation for this behavior is that
a. firms try to avoid making irreversible decisions about resource depletion.
b. investors expect interest rates to fall continuously in the future.
c. individuals tend to value their own well-being more highly than the well-being of future generations.
d. people do not have what Pigou called a "defective telescopic faculty."
c
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Suppose the following information describes the economy:Household saving300Business saving700Government purchases1,000Government transfers and interest payments500Government tax collections1,500GDP5,000Private saving equals ____and national saving equals ________.
A. 1,000; 1,000 B. 700; 0 C. 1,000; 2,000 D. 300; -200
Refer to the accompanying table. The marginal utility of the 4th dinner out per week is: Number of DinnersOut Per WeekTotal UtilityMarginal Utility1100 2 753235 4250
A. 250. B. 75. C. 60. D. 15.