Access to the movie "Casablanca," showing in a half-empty theater, is
A) a public good because individuals watch movies together.
B) a public good only if the theater is run by the government.
C) not a public good because it is a rival good.
D) not a public good because it is an exclusive good.
E) not a public good because it is both a rival good and an exclusive good.
D
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If a country has lower overall productivity levels than its trading partners, then it will
A) be unable to export. B) have a trade deficit. C) not be able to obtain gains from trade. D) have a lower standard of living than its trading partners. E) All of the above.
An economy of 25 million people has twenty percent of them engaged in research and development, where their productivity is 0.0056. The economy is on a balanced growth path, when suddenly a wave of immigration raises the population to 27 million
Assume that the new workers are immediately "on the job," and that the fraction engaged in R&D remains twenty percent. For the one period that begins with this population increase, the growth rate of output per person is ________. [Refer to the instruction above.] A) 4.3% B) 1.8% C) 3% D) 8%
The change in the quantity demanded of gas because of increasing gas prices over the last decade:
A. was more elastic than it has been in the last six months. B. was less elastic than it has been in the last six months. C. has been relatively the same over both time periods. D. has become a non-issue for people now that they are used to higher gas prices.
The marginal cost of an airline ticket is the total cost of flying the plane divided by the number of passengers
a. True b. False Indicate whether the statement is true or false