A public good
A. costs essentially nothing to produce and is thus provided by the government at a zero price.
B. generally results in substantial negative externalities.
C. can never be provided by a nongovernmental organization.
D. cannot be provided to one person without making it available to others as well.
Answer: D
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China began pegging its currency, the yuan, to the dollar in 1994
Because the yuan has been ________ at the pegged exchange rate, the Chinese government ________ its reserves of dollars as the government purchased more ________ to maintain the pegged exchange rate. A) undervalued; decreased; yuan B) overvalued; increased; yuan C) undervalued; increased; dollars D) overvalued; decreased; yuan
Total income in an economy is equal to
A) the sum of wages, interest, rent, and profit. B) firm revenues. C) GDP minus net exports. D) income minus taxes.
In the equation of exchange, velocity of money increases when
A. Y increases without any changes in P and M. B. Y falls without any changes in P. C. M increases without any changes in P and Y. D. P falls without any changes in Y and M.
You sign a contract to pay $1000 next year for the refrigerator you bought today. The rate of inflation is 10% and the real interest rate is 7%. Alternatively, you could pay $875 today. What should you do to save the most money?
What will be an ideal response?