Under present U.S. law, marijuana is an example of
A) a government-sponsored good.
B) a capital good.
C) a public good.
D) a government-inhibited good.
Answer: D
You might also like to view...
A perfectly competitive firm has a horizontal demand curve because it can sell as much as it wants at the market price.
Answer the following statement true (T) or false (F)
The fact that a gallon of gasoline commands a higher market price than a gallon of water indicates that:
a. gasoline is an economic good but water is not. b. the marginal utility of gasoline is greater than the marginal utility of a gallon of water. c. the average utility of a gallon of gasoline is greater than the average utility of a gallon of water. d. the total utility of gasoline exceeds the total utility of water.
The money cost of a particular good will approximate its opportunity cost if
a. there are serious distortions in the market. b. the market functions well. c. there is much specialization in the market. d. nations are exploiting the law of comparative advantage.
Ralph Nader's book Unsafe at Any Speed caused Congress to require
a. safety glass in all new cars. b. seat belts in all new cars. c. air bags in all new cars. d. stricter drunk driving laws in all states.