Although national defense is currently a public good, economists who advocate small government generally agree that the U.S. should privatize national defense to increase the efficiency of the good
a. True
b. False
Indicate whether the statement is true or false
False
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The additional cost a firm will incur by producing one additional unit of output is the:
A. variable cost. B. fixed cost. C. marginal cost. D. total cost.
MyPlate is both a graphic and
A. an interactive website providing personalized diet planning. B. a nutrition textbook. . C. a database identifying the nutrients in thousands of common foods. D. a diet-analysis software package.
Disposable income reflects
A) Income before taxes. B) Personal income after taxes. C) Net income from business activity. D) None of the above.
Which of the following is an example of a positive externality?
A. traffic congestion B. an increased supply of chocolate lowers chocolate prices for all consumers C. a neighbor's flower garden that you enjoy seeing D. pollution