Which of the following is an important difference between police protection and food and explains why one is commonly provided by government while the other is not?
A) Food can easily be withheld from people who don't pay for it.
B) Food is not a traditional concern of government.
C) Food is too vital to be entrusted to government.
D) Food producers form a powerful political lobby.
E) Food provided through government would be inefficient.
A
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Refer to the above figure. Suppose the economy is in equilibrium at point A. If rational expectations exist, an increase in aggregate demand caused by an anticipated increase in the money supply will cause the economy to
A) stay at point A. B) move to point B. C) move to point C. D) move to point D.
Refer to the above table. If the price of the good produced is $10 and the wage rate is $500, then the marginal revenue product of the 5th worker is
A) $10. B) $50. C) $750. D) $4,750.
Which of the following statements is? correct?
A.The relationship between two variables is linear when it is represented by a curved line and nonlinear when it is represented by a straight line.
B.The relationship between two variables is linear when it is represented by a straight line and nonlinear when it is represented by a curved line.
C.The relationship between two variables is nonlinear whether it is represented by a straight line
D.The relationship between two variables is linear whether it is represented by a straight line or by a curved line.
Nodes are:
A. different points in geographic or economic space linked by a network. B. examples of negative network externalities. C. examples of positive network externalities. D. None of the statements are correct.