Albert, Betty, Christine and David are all very good students. When they hold their study sessions, they often discuss very difficult concepts in great detail. Christine's roommate, Elizabeth, who takes completely different classes, still learns from the discussions of the others. This is the case of a(n) ____, which ____ a ____
a. public good; benefits; third party
b. externality; imposes a cost on; free rider
c. market failure; results from; third party
d. free rider; benefits from; third party
e. Externalities; benefits; third party
e
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The short run:
A. means the firm cannot increase or decrease at least one of its inputs. B. means that output cannot be changed. C. means the price of output is fixed. D. All of these are true.
Using public policy to promote health can contribute to growth because:
A. workers who are in good health will be more productive and less likely to miss work days. B. workers who get free health care are more likely to be careless. C. workers who are in good health take more vacation days and are less likely to work. D. it allows the importation of more goods and services.
The theory of short-run economic fluctuations is uncontroversial
a. True b. False Indicate whether the statement is true or false
The simple circular flow model shows that workers, entrepreneurs, and the owners of land and capital offer their services through:
A. employment agencies. B. product markets. C. business firms. D. resource markets.