Which of the following are characteristics of public goods?
A. Nonexclusionary
B. Nonrivalry and nonexclusionary
C. Nonrivalry
D. Nonchivalrous
Answer: B
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Consider the labor market depicted in the above figure. What wage rate must be paid to have the 200th hour of labor supplied?
A) $10 B) $15 C) $20 D) None of the above answers is correct.
If there is unrest in the Middle East that threatens the economic stability of Saudi Arabia, the
A) demand for Saudi Arabian currency will fall. B) demand for Saudi Arabian currency will rise. C) supply of Saudi Arabian currency will fall. D) supply of Saudi Arabian currency will rise.
Which of the following statements is true?
A. Keynesians believe that consumers are inherently unstable in consumption decisions, but that businesses are relatively stable in making investment decisions. B. Monetarists believe in discretionary monetary policy. C. Lowering tax rates is the main priority of supply side economists. D. Supply-side economists believe in a heavily regulated economy.
The government agency that computes the CPI is the _____.
Fill in the blank(s) with the appropriate word(s).