The arrival of Michael Jordan, Larry Bird, and Magic Johnson in the 1980s increased the popularity of pro basketball. This led to
a. an increase in the equilibrium quantity of professional basketball
b. a decrease in the equilibrium quantity of professional basketball
c. a decrease in the price of professional basketball tickets
d. a decrease in pro basketball players' salaries
e. an increase in the price of professional basketball tickets but no change in game attendance
A
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The supply of public goods must be left to government and nonprofit institutions. Why?
What will be an ideal response?
The unwillingness of individuals to share in the cost of a public good is called the:
A. volunteer problem. B. social conscience problem. C. public choice problem. D. free rider problem.
The number of times a unit of currency changes hands for transactions in a given period is called
a) the transactions demand for money b) the money multiplier c) M1 d) GDP e) velocity
Which of the following is a characteristic of a general? partnership?
A. Partnerships do not have to pay? taxes, but a corporation does. B. The partners have joint liability for the? firm's financial obligations. C. It is a corporation. D. Only one partner can make decisions. E. It is owned by one individual.