Among the following examples, the one that best illustrates a public good is a(n)
A. bike path around a city or town.
B. laptop used by a student in a college or university.
C. airline ticket bought by a vacationer.
D. movie produced by a Hollywood company.
Answer: A
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If Oscar's MPC is 0.95 and he earns an additional $2,000, how much would he spend?
a. $100 b. $1,900 c. $2,105 d. $40,000
Looking at a Lorenz curve, the first quintile viwed from the origin records the
a. the income held by the richest 50 percent of population b. the income held by the richest 20 percent of population c. the income held by the poorest 50 percent of population d. the income held by the poorest 20 percent of population e. the wealth held by the poorest 10 percent of population
State two examples of government-created monopolies
What differentiates the planned equilibrium level of investment from disequilibrium levels of investment? Explain.
What will be an ideal response?