A government-sponsored good is one that
A. the political process has determined is socially desirable.
B. is desirable to no one but ruled desirable by the court system nonetheless.
C. freely competitive markets have determined is socially desirable.
D. everyone agrees is socially desirable.
Answer: A
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According to Okun's Law, if the annual growth rate of real GDP is 2.5%, the unemployment rate is likely to ________
A) increase by 0.25% B) decrease by 1% C) increase by 2.5% D) decrease by 0.5%
Non-neutral technological change is more valuable to labor than neutral technological change
What will be an ideal response?
Last year a country purchased $1.5 trillion worth of goods and services from foreign countries, sold $2 trillion worth of goods and services to foreign countries and had national saving of $1.25 trillion. What was the value of its domestic investment? Show your work
Refer to the graph shown of a monopolistically competitive firm. If the firm maximizes profit, it will earn:
A. zero economic profit this year. B. $84,000 economic profit this year. C. $320,000 economic profit this year. D. $56,000 economic profit this year.