Which of the following is NOT a club good?
A) cable television
B) a rock concert
C) a country club
D) a baseball bat
D
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Briefly describe the factors that contributed to the U.S. Current Account deficits of the 1990s
What will be an ideal response?
An economy is operating with optimum efficiency if
a. the price of the product is greater than marginal cost. b. the production of more of commodity A entails the production of less of commodity B. c. marginal cost of output is greater than marginal utility of output. d. an increase in output would result in a decrease in average cost per unit.
The rule for redistribution proposed by John Rawls in his book A Theory of Justice is called the
a. "optimal ignorance" rule. b. libertarian justice rule. c. maximin criterion. d. egalitarian criterion.
Under the Bretton Woods agreements,
A. the IMF was created to punish countries that did not maintain fixed exchange rates. B. a system of fixed exchange rates based on gold was established. C. each country agreed to buy and sell its currency to maintain a fixed exchange rate. D. All of the above are correct.