If I increase my consumption of a good and this has no impact the quantity you can consume of the same good, then this good is
A) nonrival.
B) nonexclusive.
C) both nonrival and nonexclusive.
D) a free good.
A
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If we are currently at point T, we can get to point S in the long run
A. through economic growth over a period of years.
B. immediately by using resources more efficiently.
C. immediately by reducing the unemployment rate.
D. immediately through technological development.
Which of the following things does not have an objective cost?
A) Platinum B) Water C) Ski lift tickets D) Medical equipment E) None of the above has an objective cost.
In an open economy, how many TVs will this country import?
A. 30,000 B. 90,000 C. 60,000 D. 120,000
Exhibit 15-6 Aggregate demand and supply model
?
In Exhibit 15-6, if the aggregate demand curve is at AD3, the government should:
A. raise taxes to move to AD1. B. cut taxes to move to AD2. C. not change its behavior. D. cut spending to move to AD2.