The Scientific Evidence on the Causes and Consequences of Global

question 316

Multiple Choice

The scientific evidence on the causes and consequences of global warming

• A) is clear and indisputable.
• B) is uncertain and variable.
• C) indicates global warming should be stopped regardless of cost.
• D) is of no importance to economists.

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Definitions:

Elastic Demand

A situation in which the demand for a product is sensitive to price changes, indicated by a greater change in quantity demanded.

Labor Costs

The total amount of money businesses have to spend on paying their employees, including wages, salaries, and benefits.

Wage Rates

The amount of money paid per unit of time or output to an employee for labor.

Employment Decline

A reduction in the number of jobs or the rate of employment within an economy.