What are the two distinguishing characteristics of a public good?
a. nonrivalry in consumption and nonexcludability
b. indivisibility in production and excludability of nonpaying customers
c. provision by government and funding through taxation
d. mass production and comparative advantage
A
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According to the monetarists, the velocity of money is
a. constant by definition. b. highly variable and unpredictable. c. constant as a matter of empirical proof. d. not constant but predictable.
How many members are there of the U.S. Senate Committee on Banking, Housing and Urban Affairs?
A. 15 B. 20 C. 21 D. 28
A monopolist's price equals its ________ only when output is zero.
A. total cost B. marginal revenue C. marginal cost D. total revenue
At the point at which the consumption function intersects the 45 degree reference line
A) planned real consumption of real disposable income equals zero. B) planned real saving equals real disposable income. C) planned real consumption equals real disposable income. D) equilibrium output is supply determined equilibrium output is determined by both.