Jenny Magalnick is a medical researcher at the National Institutes of Health. She produces a(n)
a. transfer
b. entitlement
c. public good
d. merit good
e. government good
D
You might also like to view...
The law of increasing opportunity cost states that
A. as output increases the marginal cost does not change. B. as output increases the marginal cost increases. C. as output decreases the marginal cost increases. D. as output increases the marginal cost decreases.
List some of the problems that may arise when prices are controlled.
What will be an ideal response?
An economist might emphasize that our everyday use of natural resources is the product of knowledge by saying:
A) "Money is the root of all that is good about the world." B) "Usable oil comes from our minds' innovations." C) "A bird in the hand is worth two in the bush." D) "You're fired."
According to the graph shown, if the market is in equilibrium, producer surplus is:
A. $30.
B. $20.
C. $50.
D. $60.