An example of a good or service that would count in the U.S. GNP would be a bag of coffee made in:
A. Vermont by Green Mountain Coffee Roasters.
B. Colombia by Dunkin' Donuts.
C. Canada by Starbucks.
D. All of these would count in U.S. GNP.
D. All of these would count in U.S. GNP.
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Because of the free-rider problem, ________
A) there is an efficient allocation of resources for common resources B) private provision leads to the production of more than the efficient quantity of a public good C) private provision leads to the production of less than the efficient quantity of a public good D) the public uses too little of a common resource
If the quantity of a product demanded is greater than the quantity of a product supplied, there is pressure in the market to push the price downward.
Answer the following statement true (T) or false (F)
Special interest groups, in the theory of regulation, may be defined as:
A. self-interested individuals who benefit from regulation. B. public-spirited individuals who will benefit from regulation. C. self-interested individuals who will suffer from regulation. D. public-spirited individuals who will suffer from regulation.
Holding other factors constant, if Congress passes a 5% investment tax credit under which a firm receives $5 in tax refunds from the government for every $100 it spends on new capital equipment, then the real interest rate will ________ and the equilibrium quantity of national saving and investment will ________.
A. increase; decrease B. increase; increase C. decrease; increase D. increase; not change