A pure public good is _____ and _____
a. nonexcludable; private in consumption
b. excludable; private in consumption
c. excludable; collective in consumption
d. nonexcludable; collective in consumption
d
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Refer to the table below. As the firm increases the number of employee-hours each day from 1 to 2, output increases by:OutputPer DayNumber ofEmployeeHours Per Day00331662994132716511
A. 66 units. B. 33 units. C. 99 units. D. 132 units.
Which of the following can increase customer awareness?
a. Advertising b. Promotional activities c. Service d. All of the above
Land includes all of the following except
a. a virgin forest b. natural-state real estate c. oil under the oceans d. deposits of copper e. an irrigation system
Suppose real GDPs in Hauck and Meran are identical at $10 trillion in 2000. Suppose Hauck's economic growth rate is 2% and Meran's is 4% and the rates remain constant over time. Calculate the percentage difference in their levels of potential output in 2036.
A. There will be no difference in their levels of potential output. B. Meran's potential output will be 50% higher than that of Hauck's. C. Hauck's potential output will be 100% higher than that of Meran's. D. Meran's potential output will be 100% higher than that of Hauck's.