In economics, a public good
A. Cannot be denied to consumers who have not paid.
B. Is provided in an optimal amount by the market.
C. Is any good produced by the government.
D. Has social costs of production lower than private costs of production.
Answer: A
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Is the image of the typical American worker as a blue-collar worker true? Substantiate your answer with facts.
What will be an ideal response?
A reason that economists keep an eye on both M2 and M1 is because
A) money market accounts are sometimes used like checking accounts and sometimes like savings accounts. B) during a recession, M1 is meaningless. C) M2 is more accurate than M1. D) both fluctuate widely and frequently in total dollar value.
A____________is a graph showing the various quantities supplied at each and every price that might prevail in the market.
Fill in the blank(s) with the appropriate word(s).
Orange juice and grapefruit juice are likely to be
A. inferior goods. B. substitutes for one another. C. complementary to one another. D. all of the above.