Traffic congestion is an example of a(n)
A. public good.
B. economy of scale.
C. externality.
D. government failure.
Answer: C
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The speculative demand for money
Which of the following methods of restricting trade does NOT harm the overall economy?
A) a voluntary export restraint B) a tariff C) a quota D) Both answers A and B are correct. E) None of the above answers is correct because all the methods harm the overall economy.
What happens to a country's production possibility frontier if it experiences a natural disaster such as a hurricane or an earthquake? Explain
What will be an ideal response?
According to Robert Higgs,
a. World War II was a period of unique prosperity. b. prosperity came only after World War II ended. c. measures of GDP during World War II are accurate. d. civilian consumption of most items actually rose during World War II.