If a nation's government determines that consumption of cigarettes should be discouraged, then this means that the government has judged cigarettes to be a(n)
A) government-sponsored good.
B) exclusive good.
C) government-inhibited good.
D) public good.
Answer: C
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In economics, the optimal level of pollution is
A) zero. B) the level for which the net benefit from reducing the pollution is greatest. C) the level for which the total benefit from reducing the pollution is greatest. D) the level which generates a positive externality.
Which of the following should be increased during an expansion?
A) Government spending B) Unemployment C) Inflation D) Tax rates
When a country imports more than it exports, it has a:
A. trade deficit. B. trade surplus. C. zero trade balance. D. policy which forbids exportation.
In GDP accounting, Social Security payments are:
A. not counted as part of government purchases and GDP. B. are counted in government purchases, but not counted in GDP. C. are not counted in government purchases, but counted in GDP. D. are counted both in government purchases and in the GDP.