Which one of the following is least likely to be considered a public good?
a. An interstate highway
b. A national park
c. Wildlife
d. A river
e. A golf course
Answer: e. A golf course
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Refer to the above table. How long would it take for a country to triple its GDP if the GDP grew at a 20 percent rate?
A) 10 years B) 6 years C) 4 years D) 2 years
Under perfect competition, a firm is a price taker because:
A. setting a price higher than the going price results in profits. B. each firm's product is perceived as different. C. each firm has a significant market share. D. setting a price higher than the going price results in zero sales.
The table below shows the export and import values of automobiles, pharmaceuticals, and clothing in Country A and County B. Country AExports ($Billions)Imports ($Billions)Automobiles2040Pharmaceuticals3030Clothing400Country BExports ($Billions)Imports ($Billions)Automobiles020Pharmaceuticals4040Clothing4535 The weighted average of the intra-industry trade (IIT) shares in Country B's trade in automobiles, pharmaceuticals, and clothing is
A. 0.833. B. 2.000. C. 0.417. D. 0.895.
The American Medical Association, a physicians' union, is a good example of a(n):
A. Demand-enhancing union B. Craft union C. Inclusive union D. Industrial union