An example of a good that is rival in consumption is:
A. public utilities.
B. a hamburger.
C. national defense.
D. radio signals broadcast over the air.
Answer: B
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Refer to Figure 7-1. The market equilibrium quantity is ________ thousand vaccinations
A) 100 B) 200 C) 300 D) >300
Business cycles are recurring periods of economic growth and decline in an economy's real GDP
a. True b. False Indicate whether the statement is true or false
Which of the following would be counted in the U.S. GDP for 2015?
a. a Ford Fiesta made in Mexico b. the $5,000 an investor used to purchase stock in Home Depot c. Ford buying tires from Goodyear for new Ford Mustangs d. none of the above
Which of the following does not meet the economic definition of saving?
A. A graduate assistant spends all of his income on tuition B. A student deposits money in her savings account C. A professor spends less than he makes each month D. The president's secretary puts cash under her mattress