Each of the four major kinds of plants is associated with four
important evolutionary events. What are those events, and which
plant type is associated with each event? (This question is worth
20 points)
1. Describe major problems with CPI as an indicator inflation,
give examples of each.
2. What divergences arise between equilibrium quantity and
efficient quantity when (a) negative externalities and (b) positive
externalities are present? How might government correct these
divergences? Cite an example (other than the text examples) of an
external cost and an external benefit.
3. How is the labor force defined and who measures it? How is
the unemployment rate calculated? Does an increase in the
unemployment rate...