According to your textbook, a "free" good is
A) a good paid for by someone else.
B) a stolen good.
C) a good given away by charities.
D) a good obtained without any sacrifice whatsoever.
D
You might also like to view...
An increase in bond prices is usually accompanied by
A. an increase in the opportunity cost of holding money. B. an increase in the quantity demanded of money C. a decrease in the quantity demanded of money. D. an increase in interest rates.
At the end of the year, Ford realizes it has overproduced Fiestas, because 2,500 of them are left unsold. How is this accounted for in that year's GDP? The cars are:
A. considered inventory and their value will increase investment. B. considered durable goods, and their value will increase consumption. C. not counted until they are sold in next year's GDP. D. considered a bad thing and reduce the value of investment.
The substitution effect and the output effect
A. work in the same direction. B. work in opposite directions. C. are independent of one another, having nothing in common. D. None of these choices are correct.
Given the uncertainty about the effects of macro policy, economists generally propose that
A) macro policies should be more active, the lower the level of unemployment or inflation. B) changes in money growth should only be used for fine tuning the economy, not for correcting large imbalances (such as high inflation). C) money growth should be set at zero by constitutional amendment. D) elected officials should have more input in the determination of monetary policy. E) none of the above