When Major League Baseball players were awarded the right of free agency, no player had to give up their own free agency in order for someone else to get it, and no one could be excluded from free agency
These two characteristics of free agency demonstrate that it meets the criteria of a A) pure public good.
B) club good.
C) common pool resource.
D) pure private good.
A
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Average fixed costs of production
A) will rise at a fixed rate as more is produced. B) remain constant. C) graph as a U-shaped curve. D) fall as long as output is increased.
The effect of a shift in the aggregate demand curve due to an increase in consumer confidence will be:
A. an increase in both prices and output in the short run. B. a decrease in prices only in the long run; output will remain the same. C. a decrease in both prices and output in the short run. D. an increase in output only in the long run; prices will remain the same.
The main reason the United States established a central bank was
a. a desire for a strong centralized financial authority. b. to follow the conclusions of economic theory. c. severe inflation after the Civil War. d. disastrous experiences with financial panics.
In 2010, President Obama signed into law that made the Federal Reserve as the nation's
A. fiscal policy making unit. B. largest private bank. C. regulator of systemic financial risk. D. federal income tax collector.