Protecting endangered species are likely to be
A) a private cost.
B) a public cost.
C) both private and public costs.
D) neither a private nor public cost.
Answer: B
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The change in the amount of a good purchased after a shift of the supply curve depends on
A. the size of the shift. B. the slope of the demand curve. C. whether the market is subject to price controls. D. All of these responses are correct.
The quantity supplied of a good
a. is the amount that sellers would provide if the firms faced no constraints b. is the amount that sellers would provide if input prices were zero c. must match the amount actually purchased in the market d. is a fixed amount unaffected by the sellers' circumstances e. is subject to the constraints imposed by technology and input prices
In 2011 the largest percentage of federal government spending was on
a. national defense. The largest source of federal revenues was from corporate income taxes. b. health. The largest source of federal revenues was from individual income taxes. c. income security. The largest source of federal revenues was from corporate income taxes. d. income security. The largest source of federal revenues was from individual income taxes.
Which of the following is an example of a good whose price goes down because of improvements in technology?
a) computer printers b) running shoes c) hard-bound books d) typewriters