The federal government's role as the provider of national defense is justified by considerations of
A. Private goods.
B. Public goods.
C. Inequity.
D. None of the choices are correct.
Answer: B
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There is excess production of tomatoes in the market. This implies that
A. the current price is above the equilibrium level. B. supply of tomatoes is more than the demand. C. quantity demanded is more than quantity supplied. D. the price will be rising, as a result.
An electricity provider charges consumers $0.20 per kWh for the first 100 kWh, $0.25 per kWh for the next 50 kWh, and $0.27 per kWh for all subsequent kWH of usage. This would be considered
A) an antitrust violation. B) an example of increasing-block pricing. C) bad business practices. D) an example of three-part pricing.
The industry demand for labor in a competitive labor market
a. is the same as the individual demand for labor in a perfectly competitive market b. is a horizontal curve at the market wage rate c. slopes upward when there are diminishing returns d. is the sum of the individual firms' demand curves for labor e. is downward sloping only if all firms that employ labor are identical
The following table shows Alex's estimated annual benefits of holding different amounts of money.Average money holdingsTotal benefit$700$50$800$59$900$66$1,000$71$1,100$74 How much money will Alex hold if the nominal interest rate is 6 percent? (Assume she wants her money holdings to be in multiples of $100.)
A. $700 B. $1,000 C. $800 D. $900