The cost of building a blast furnace for an iron and steel firm would be categorized as a:
a. total cost
b. fixed cost.
c. variable cost.
d. marginal cost.
b
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Free-riding is a problem associated with
a. nonrivalrous goods. b. nonexclusive goods. c. both nonrivalrous and nonexclusive goods. d. neither nonrivalrous nor nonexclusive goods.
A market structure wherein one firm among several is dominant is referred to as
a. unbalanced oligopoly b. monopolistic competition c. perfect competition d. balanced oligopoly e. monopoly
The set of fiscal policies that would be most contractionary would be a(n):
A. Increase in government spending and taxes B. Decrease in government spending and taxes C. Increase in government spending and a decrease in taxes D. Decrease in government spending and an increase in taxes
For the capital stock of the economy to remain constant over time the amount of investment:
A) must exceed the depreciated value of capital stock. B) must be less than the depreciated value of capital stock. C) must be equal to the depreciated value of capital stock times the savings rate of the economy. D) must be equal to the depreciated value of capital stock.