The production of information products is characterized by
A. relatively low fixed cost.
B. diseconomies of operation.
C. relatively low marginal cost.
D. an upward sloping marginal cost curve.
Answer: C
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Which of the following is an example of a pure public good?
A) a lighthouse B) burritos C) a high school football game D) redwood forests
Which of the following is NOT a function of money?
A) medium of stored value B) standard of deferred payment C) unit of accounting D) store of value
Which of the following is a policy used to combat structural unemployment?
A. Job training programs. B. Government intervention in labor markets for the purpose of holding wage increases down to 5.5 percent annually. C. An increase in the discount rate. D. A decrease in tax rates for the purpose of increasing aggregate demand.
Wheat used for producing bread is
A. a durable good. B. not going to generate any employment. C. an intermediate good. D. a final good.