Congested non-toll roads is an example of a _____
a. merit good
b. club good
c. common resource
d. nonrenewable resource
c
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Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. How many minutes will low-demand consumers purchase?
A. 75 B. 175 C. 200 D. 100
A person who is out of work, available for work, but not seeking work is
a. counted as unemployed. b. part of the labor force. c. a discouraged worker. d. a fictionally unemployed person.
Which of the following statements is true of a barter system? a. In a barter system, it is difficult to keep track of the relative values of goods and services. b. In a barter system, an individual offers money to import goods and services
c. In a barter system, an individual offers currency notes to get coins. d. In a barter system, different kinds of money are exchanged for one another. e. In a barter system, individuals are self-sufficient.
If some non-price level determinant causes total spending to increase, then the effect on aggregate demand will be a: a. movement upward along the curve
b. movement downward along the curve. c. shift to the left. d. shift to the right.