Natural monopolies are ________ and ________
A) rival; excludable
B) nonrival; excludable
C) rival; nonexcludable
D) nonrival; nonexcludable
B
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After a binding price floor becomes effective, a
a. smaller quantity of the good is exchanged. b. a larger quantity of the good is demanded. c. a smaller quantity of the good is supplied. d. All of the above are correct.
Which president had to cope with both rising deficits and a rising rate of inflation?
A. John Kennedy B. Dwight Eisenhower C. Jimmy Carter D. Ronald Reagan
The diagram suggests that:
A. X and Y are both inferior goods.
B. X and Y are both normal goods.
C. X and Y are substitute goods.
D. X and Y are independent goods.
The natural rate of unemployment is likely to fall if:
a) Unemployment benefits increase b) Income tax increases c) More training is available for the unemployed d) Geographical immobility increases