The law of demand applies to
A) clean streets.
B) clean air.
C) clean water.
D) the maintenance endangered species.
E) all of the above.
E
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Compared to the United States, minimum wages are ________ and unemployment benefits ________ in Western Europe.
A. lower; less generous B. higher; less generous C. higher; more generous D. lower; more generous
In the above figure, how does the slope of the line between x = 4 and x = 5 compare with the slope between x = 2 and x = 3?
A) The slope is greater between x = 4 and x = 5. B) The slope is greater between x = 2 and x = 3. C) The slope is the same. D) The slope is not comparable.
The marginal product of labor (MPL) is given by the ________
A) labor share of income + average output per unit of labor B) labor share of income - average output per unit of labor C) labor share of income ÷ average output per unit of labor D) labor share of income × average output per unit of labor E) none of the above
A large dam along the Tennessee River is a public good because ______.
a. it is excludable b. it is rival in consumption c. it belongs to the government d. it provides flood protection to everyone