A government good or service includes
A. bridges.
B. parks.
C. national defense.
D. all of these answer options are correct.
D. all of these answer options are correct.
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Use the following graphs for a perfectly competitive market in the short run to answer the next question.
The graphs suggest that in the long run, assuming no changes in the given information,
A. buyers will leave the industry. B. more buyers will come to the market. C. some firms will exit from this industry. D. new firms will enter the industry.
The policy directive from the FOMC is carried out by
A) the presidents of the district banks. B) the presidents of commercial banks that are members of the Federal Reserve System. C) the account manager at the Federal Reserve Bank of New York. D) private dealers in the bond market.
In the above figure, the opportunity cost of moving from point A to point C is
A) 50 guitars. B) 0 guitars. C) 25 guitars. D) 50 ukuleles.
A subsidy to firms intended to reduce pollution in an industry would
A. shift the LRAC curve upward. B. have the same impact on the firm as a tax. C. likely drive some existing firms from the industry. D. likely have the paradoxical effect of increasing pollution in the industry in the long run.