A tragedy of the commons occurs when a resource is
A) rival and excludable. B) rival and non-excludable.
C) non-rival and excludable. D) non-rival and non-excludable.
B
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The table above gives a nation's production function. Which of the following is NOT an attainable combination of real GDP and labor?
A) real GDP of $4.0 trillion and labor of 90 billion hours per year B) real GDP of $4.7 trillion and labor of 110 billion hours per year C) real GDP of $4.0 trillion and labor of 70 billion hours per year D) real GDP of $5.2 trillion and labor of 90 billion hours per year E) real GDP of $5.5 trillion and labor of 150 billion hours per year
Which procedure seems to be most useful to structure a macroeconomic analysis?
a. (1) Describe the economic setting in the three key markets; (2) Analyze the chain reaction of economic causes and effects; (3) Identify the economic shock. b. (1) Analyze the chain reaction of economic causes and effects; (2) Identify the economic shock; (3) Describe the economic setting in the three key markets. c. (1) Identify the economic shock; (2) Analyze the chain reaction of economic causes and effects; (3) Describe the economic setting in the three key markets. d. (1) Identify the economic shock; (2) Describe the economic setting in the three key markets; (3) Analyze the chain reaction of economic causes and effects. e. (1) Describe the economic setting in the three key markets; (2) Identify the economic shock; (3) Analyze the chain reaction of economic causes and effects.
The short-run aggregate supply curve shifts because of changes in all of the following EXCEPT
capitalstock technical progress money wage rates the price level
Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. 
Figure 16.1 Refer to Figure 16.1. ________, 60 bags of fertilizer will be produced.
A. With government intervention B. Absent government intervention C. With a price ceiling D. To avoid shutting down