Which of the following goods has the property of rivalry?
A) national defense
B) a highway
C) air to breath
D) an outdoor movie screening
B
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Computer software is an example of a good that is
a. both nonexcludable and nonrivalrous. b. nonexcludable, but not nonrivalrous. c. nonrivalrous, but not nonexcludable. d. a pure private good.
The primary goal of supply-side economics is to
a. balance the federal budget. b. reduce the balance of payments deficit. c. reduce the money supply. d. reduce inflation and increase growth at the same time.
Suppose people expect inflation to be 3 percent during the next several years. When the real interest rate is 5 percent, the money, or nominal interest rate, will be
a. 1 percent. b. 4 percent. c. 7 percent. d. 8 percent.
Exhibit 14A-1 Aggregate demand and supply model
Beginning in Exhibit 14A-1 from long-run equilibrium at point E1, the aggregate demand curve shifts to AD2 . The economy's path to a new long-run equilibrium is represented by a movement from:
A. E3 to E1 to E2. B. E1 to E3 to E2. C. E2 to E1 to E2. D. E1 to E2 to E3.