Which of the following is an example of a durable good?
a. food prepared at home
b. food eaten at a restaurant
c. high-fashion clothing
d. binoculars
e. motor oil
D
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Building a good reputation:
A. is a form of screening. B. is a form of signaling. C. is a form of statistical discrimination. D. None of these statements is true.
A cartel is:
A. a duopoly with more than two firms. B. a firm that always has a dominant strategy. C. a number of firms who collude to make collective production decisions about quantities or prices. D. the "leader" of an industry, typically the firm with the largest market share.
Imagine an economy that does not have international trade and is initially in equilibrium. Later the government increases the level of spending by $350 million because it received a gift from abroad. In this economy, only 65 cents of every dollar is spent, and the rest is saved. Calculate the value of the spending multiplier for this economy
a. 2.86 b. 0.286 c. 1.54 d. 0.154 e. 0.35
Land, water, metals, and minerals are considered to be
a. non-scarce resources because they are "gifts of nature" b. free resources because they are "gifts of nature" c. manufactured resources because no resource is useable without labor d. natural resources that are "gifts of nature" e. renewable resources that are "gifts of nature"