On hot summer days, electricity-generating capacity is sometimes stretched to the limit. At these times, electric companies may ask people to voluntarily cut back on their use of electricity. On these days, electricity is
a. excludable, but nonrival in consumption.
b. not excludable, but rival in consumption.
c. excludable and rival in consumption.
d. not excludable and nonrival in consumption.
c
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The most heavily traded American stocks are traded on the
A. New York Stock Exchange. B. American Stock Exchange. C. regional stock markets. D. “third market.”
Comparing firms in perfectly competitive markets to monopoly firms, which produces more output?
A measure of the volatility of a variable is its
a. present value. b. future value. c. return. d. standard deviation.
As a result of an increase in demand from D2 to D1 in Figure 36.4, ceteris paribus, the price of a $40,000 U.S. computer system, in terms of Japanese yen, would: =
A. Decrease in price by 200,000 million yen. B. Increase in price by 200,000 million yen. C. Increase in price by 800,000 yen. D. Decrease in price by 800,000 yen.