The value and cost of goods are easiest to determine when the goods are
a. common resources.
b. public goods.
c. club goods.
d. private goods.
Answer: d. private goods.
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In the United States since 1929, the duration of recessions on average has been:
A. shorter than the duration of expansions. B. longer than the duration of expansions. C. steadily increasing. D. steadily decreasing.
Use the following table to answer the question below.Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800One pound of green beans costs Jake ________ pound(s) of corn. One pound of green beans costs Jane ________ pound(s) of corn.
A. 1, 4 B. 4, 1 C. 1, 1/4 D. 1/4, 1
The demand curve for capital is ____ and its supply curve is ____
a. downward sloping; downward sloping b. upward sloping; upward sloping c. downward sloping; upward sloping d. upward sloping; downward sloping
In the traditional Keynesian model, if the government raises taxes, then
A. both consumption and real Gross Domestic Product (GDP) will increase. B. both consumption and real Gross Domestic Product (GDP) will decrease. C. consumption will increase but Gross Domestic Product (GDP) will decrease. D. consumption will decrease but Gross Domestic Product (GDP) will increase.