Which legal claim comes with voting rights?
A. common stock
B. preferred stock
C. bond
D. debt
Answer: A
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Governments should provide nonrival, nonexcludable goods only if the social benefits of the goods outweigh the cost of producing those goods
Indicate whether the statement is true or false
Historical demand curves are always suspect because their demand curves are likely to have shifted over time.
Answer the following statement true (T) or false (F)
The GDP of an economy is accurately calculated when: a. the values of both intermediate and final goods are included
b. the values of both intermediate and final goods are excluded. c. the value of intermediate goods are included, while the value of final goods are excluded. d. the value of final goods are included, while the value of intermediate goods are excluded.
When movie ticket prices increase, families tend to spend less time watching movies and more time at home watching videos instead. This best reflects:
A) diminishing marginal utility B) the income effect C) the rationing function of markets D) the substitution effect.