Which of the following is an example of a public good?
A. a weather warning system
B. a sofa
C. a bottle of soda
D. a television set
Answer: A
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When the European System of Central Banks uses main refinancing operations, it is similar to the Federal Reserve using
A) dynamic open market operations. B) defensive open market operations. C) discount policy. D) reserve requirements.
Which of the following are NOT included among Gordon's criticisms of Friedman's fooling model?
A) Workers buy many goods on a weekly basis and thus could discover quite quickly that prices had risen. B) Workers could discover movements in the aggregate price level fairly easily. C) The model relied on a non-market-clearing explanation of the labor market. D) Workers would predict higher prices if policies that led to higher prices in the past were used again.
Refer to Figure 9.7. The amount the government will have to pay to producers to sustain this policy is at least
A) $0. B) $10,000. C) $15,000. D) $20,000. E) $100,000.
Which situation below would represent a surplus in the fertilizer market?
A. quantity demanded is 1.2 million; quantity supplied is 1.1 million. B. market price $2.00 per bag; equilibrium price $2.25 per bag. C. market price $2.50 per bag; equilibrium price $2.00. D. quantity supplied this year is 25% greater than quantity supplied last year.