An example of a public good is
A. a concert by renowned country music star.
B. a good that can be used exclusively by one consumer only.
C. a local free fireworks display.
D. a café latte at Starbucks.
C. a local free fireworks display.
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In the United States, the Air Quality Index (AQI)
a. measures the concentration of hazardous air pollutants through monitoring stations b. is used only within the scientific community c. uses numerical values and colors to communicate urban air quality d. includes concentration data for all six criteria pollutants
An increase in quantity supplied can be caused by a(n)
a. decrease in quantity demanded b. rise in resource input prices c. increase in price d. decrease in the number of firms in the market e. tax levied on the producer
The Fed's revenue comes:
A. from Congressional appropriation. B. solely from taxes placed on member banks. C. from internally generated funds from interest on securities it holds and fees charged to banks for payments system services. D. from the Department of Commerce.
The marginal propensity to consume (MPC) is related to the marginal propensity to save (MPS) by the formula MPC = 1 - MPS.
Answer the following statement true (T) or false (F)