When it comes to ________ goods, it is important to remember only one level of output can be realized and consumers are ________ for that level.
A. private; willing to pay different amounts
B. public; willing to pay different amounts
C. private; only willing to pay the same amount
D. public; only willing to pay the same amount
Answer: B
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A) mainly technical issues. B) mainly political issues. C) mainly cultural issues. D) all of the above.
An increase in deficit spending tends to raise interest rates, thereby resulting in a multiplier effect that is higher than what would be associated with an equivalent increase in consumption spending
a. True b. False Indicate whether the statement is true or false
Changes in the output of a perfectly competitive firm, without any change in the price of the product, will change the firm's
a. total revenue. b. marginal revenue. c. average revenue. d. All of the above are correct.
Which of the following does NOT involve transfers in kind?
A. food stamps B. income tax refund C. Medicare D. public housing