Pay-per-view broadcasts are ________
A) public goods
B) private goods
C) club goods
D) common pool resources
C
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Compare and contrast the relative price elasticities of Marlboro brand cigarettes with cigarettes in general. Why is there a difference?
What will be an ideal response?
One explanation that behavioral economists give for procrastination and other time-inconsistent behavior is
A) people's personal discount rate is greater in the far future than in the near future. B) people's personal discount rate is smaller in the far future than in the near future. C) people's personal discount rate is the same in the far future as in the near future. D) None of the above.
A flour mill holding exclusive contracts to 95% of the wheat in a large geographic area may operate as a flour-producing monopoly locally because
A) the mill has a very inelastic supply curve. B) the mill is a natural monopoly. C) the mill controls a key input. D) the government will declare it a monopoly.
Which of the following statements best describes the level of potential output in the U.S.?
A. It has been decreasing since 1999 B. It never changes year to year C. It usually increases year to year D. It is very erratic year to year