A good is considered nonrival-in-consumption if
a. many individuals can share in the consumption of the same unit of the good.
b. the consumption of the good by one individual lowers the amount available for others.
c. even nonpaying customers can receive the full benefit from the good.
d. its production is financed through tax revenue rather than market prices.
A
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Which of the following is a potential result of a price ceiling?
A) excess supply B) long lines C) higher quality output D) higher marginal costs
The largest component of M1 is
A) currency and coins. B) traveler's checks. C) transaction deposits. D) time deposit.
Which of the following is false?
a. In a liquidity trap, expansionary monetary policy will tend to increase the excess reserves in the banking system. b. If there are currently excess reserves in the banking system, in a liquidity trap, expansionary monetary policy will lead those excess reserves to be lent out by the banking system c. If there are no changes in the level of excess reserves held in the banking system as a result, both expansionary and contractionary monetary policy can successfully shift the money supply curve d. None of the above; all of the above are true.
Describe the three pillars of productivity growth.
What will be an ideal response?