In the post-World War II period, considerable growth in total production took place in the United States.
But at the same time, businesses were dumping their waste into the Great Lakes with minimal cost to themselves, significantly polluting the bodies of water as a result. This occurrence is an example where A) real GDP gives an overly positive view of economic welfare.
B) real GDP gives an overly negative view of economic welfare.
C) investment would have been a better measure of total production.
D) the pollution counts as a final good.
Question 2
A country specializes in the production of goods for which it has a comparative advantage, so
A) some producers and consumers win, some lose, but overall the gains exceed the losses.
B) all producers win.
C) all consumers win.
D) producers win, consumers lose, but overall the gains exceed the losses.
Filter in the vena cava prevents an embolus from traveling to the heart, lungs, or brain; A, Greenfi
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