Which of the following statements is not true?
A. Some public goods are paid for by private philanthropy.
B. Private provision of public goods is usually unprofitable.
C. The free-rider problem results from the characteristics of nonrivalry and nonexcludability.
D. Public goods are only provided by government.
Answer: D
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Utility is best defined as
A) the amount one is willing to pay for a good. B) the price of a good. C) the satisfaction from consuming a good. D) the practical usefulness of a good.
In the model of the perfectly competitive firm, the firm's fixed costs are equal to its implicit costs of production
Indicate whether the statement is true or false
If a government-imposed price ceiling causes the observed price in a market to be below the equilibrium price,
A) there will be excess demand. B) there will be excess supply. C) the curves will shift to make a new equilibrium at the regulated price. D) None of the above.
A . Why is the Fed interested in controlling both the interest rate and the size of the money supply? b. In the grand scheme of things, does it really matter which target option the Fed chooses? That is, is there a preferred target option?