Government goods are provided to the consumer at a zero price. This means that
A) the cost to society is zero.
B) the political system is run by proportional rule.
C) people are getting something for nothing.
D) the cost of the goods is the value of the resources used to produce the good.
D
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Is there any risk involved in using fiat money? How can it be minimized?
What will be an ideal response?
When goods are subject to market failure, all of the following are possible solutions to the market failure except:
A. change social norms. B. have government either regulate the market or provide the good. C. privatize the good. D. set a very specific consumer quota on consumption.
The exchange rate is the
a. value of money b. quantity of dollars, yen, etc., that are traded c. amount of a foreign currency that is used to buy goods made in your country d. number of units of your currency that it takes to buy one unit of a foreign currency e. number of units of a foreign currency that can be bought with one unit of your own currency
Given an upward-sloping aggregate supply curve, which of the following is most likely to occur if the Fed sells bonds in the open market, ceteris paribus?
A. Greater inflation and more unemployment. B. Greater inflation and less unemployment. C. Lower average prices and less unemployment. D. Lower average prices and more unemployment.