Which of the following is not a characteristic of a public good?
a. It requires resources to produce.
b. It is not diminished or depreciated as additional people consume the good.
c. Its benefits cannot be withheld from anyone.
d. It is a free good.
e. It generates value (benefits) to more than one person.
D
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In the early 2000s, laws requiring banks and mortgage brokers to disclose the terms of home loans:
A. prevented Americans from entering into mortgage contracts that they did not understand. B. were an example of how the government can act to solve the moral hazard problem. C. were so numerous and detailed that borrowers didn't read or understand the information the companies had disclosed. D. reduced statistical discrimination in the home mortgage market.
Which one of the following statements is true?
a. Resources flow from the government to firms. b. Taxes flow from foreign economies to the government. c. Goods and services flow from households to foreign economies. d. Resources flow from households to firms. e. Resource payments flow from households to the government.
If a firm experiences decreases in the per-unit costs of production as its network increases, then this firm is experiencing
A) economies of scope. B) economies of scale. C) network externalities. D) differentiation.
Figure 20-4
In Figure 20-4, which panel shows the impact of union efforts to have goods produced in Asia excluded from the U.S. market?
A. 1 B. 2 C. 3 D. 4