A traffic light at an intersection is
a. a public good.
b. a private good.
c. a club good.
d. a common good.
a
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Suppose real GDP for a country is $13 trillion in 2015, $14 trillion in 2016, $15 trillion in 2017, and $16 trillion in 2018. Over this time period, the real GDP growth rate is
A) increasing. B) decreasing. C) constant. D) negative.
Penetration pricing is a way to:
A. raise a rival's marginal cost. B. gain a critical mass of customers. C. increase a rival's fixed costs. D. lower a rival's input costs.
If the demand curve is less elastic than the supply curve, then:
A. the buyers will bear a greater tax incidence. B. the buyers will bear a smaller tax burden than sellers. C. the sellers will bear a greater tax burden than buyers. D. the sellers will bear a greater tax incidence.
_________ are more inclined to keep the government hands off the economy and favor adhering to fixed rules.
A. Conservatives B. Liberals C. Politicians D. None of the above is correct.