Which of the following goods is least likely to be provided by the private sector?
a. a good characterized by nonrivalry in consumption from which nonpaying customers can be excluded
b. a good characterized by nonrivalry in consumption from which paying customers cannot be excluded
c. a good characterized by rivalry in consumption from which nonpaying customers can be excluded
d. a good for which the marginal private benefit to an individual exceeds the marginal cost of producing the good
b
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Which of the following statements is true?
A) Using fewer observations will strengthen the force of an empirical argument. B) The number of observations used does not affect the strength of an empirical argument. C) Empirical arguments can be supported without the use of data. D) Using a large data set will strengthen the force of an empirical argument
Which of the following is the best definition of a spot market?
a. A market in which a good is bought or sold with the idea that the price will increase in the future b. A market in which a good is bought or sold with the hope that the price will decrease in the future c. A market in which prices do not fluctuate up or down very easily d. A market in which a good is bought or sold for immediate delivery or consumption e. A market in which the good being traded is used to remove spots on clothes
Compensating differences in wages, pay workers for:
A. differences in worker training and skills. B. differences in the nonmonetary characteristics of jobs. C. geographic immobility. D. discrimination in hiring and firing.
Indifference curves have positive slopes.
Answer the following statement true (T) or false (F)