A pure public good is such that
A. both rivalry and exclusivity hold.
B. neither rivalry nor exclusivity hold.
C. exclusivity holds, but rivalry does not.
D. rivalry holds, but exclusivity does not.
Answer: B
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Which of the following is not a final good or service?
A. A gallon of milk for your breakfast cereal B. A notebook for your college courses C. The cheese on the pizza you bought from Domino's D. The salsa you use while watching football on the weekend.
What is likely to happen to the labor market equilibrium for firemen as building codes change to require firewalls and sprinklers to be included in all new construction?
A. The number of firemen employed will increase while firemen wages will increase. B. The number of firemen employed will decrease while firemen wages will increase. C. The number of firemen employed will increase while firemen wages will decrease. D. The number of firemen employed will remain the same while firemen wages will increase. E. The number of firemen employed will decrease while firemen wages will decrease.
The Wagner Act
A) permitted unions to engage in collective bargaining. B) permitted states to pass right-to-work laws. C) restricted activities of heads of unions that were not beneficial to union members. D) mandates compulsory arbitration in some key industries.
Referring to the above graphic, which of the following statements is FALSE?
A. The monopolist produces at Qm, and charges a price of Pm, while maximizing profits at the intersection of MC and MR. B. The price the monopolist charges in panel (b) at Pm is lower than the price that the competitive producer charges. C. In panel (a), a competitive situation is shown in which equilibrium is established at the intersection of D and S at point E. D. In panel (a), the equilibrium price is Pe and the equilibrium quantity Qe.