A public good is
A. a good deed done by someone who refuses payment.
B. something produced and sold by the government, for example, electricity provided by a government authority.
C. something whose consumption by one person does not prevent its consumption by other people.
D. something that is good for a country, but not necessarily for private individuals.
C. something whose consumption by one person does not prevent its consumption by other people.
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If a single person has a standard deduction of $6,300, itemized deductions of $6,650, and a personal exemption of $4,000, then the first ________ of income is federal income tax free.
A. $10,300 B. $10,650 C. $16,950 D. $12,950
You pay $15 for an all-you-can-eat buffet. The food isn't so good, but definitely edible. When you finish eating, what is the marginal value of the last bite of food you consumed?
A) zero B) $15 C) positive D) negative
Regression analysis can best be described as
A) a statistical technique for estimating the best relationship between one variable and a set of other selected variables. B) a statistical technique for determining the true values of variables. C) a statistical technique for creating functional relationships among variables. D) None of the above
Which of the following is a function of money?
(a) Unit of Account. (b) Store of Value. (c) Standard of Deferred Payment. (d) All of the above