A pure public good is one that is:
A. nonexcludable but rival.
B. neither nonrival nor nonexcludable.
C. highly nonrival and highly nonexcludable.
D. nonrival but excludable.
Answer: C
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Which of the following statements regarding the production possibilities frontier is TRUE?
A) Points outside the frontier are attainable. B) Points inside the frontier are attainable. C) Points on the frontier are less efficient than points inside the frontier. D) None of the above because all of the above statements are false.
A balance of payments deficit is defined as the amount by which
a. a country's exports exceed its imports. b. a currency must appreciate in order to reach equilibrium. c. quantity supplied of a country's currency exceeds quantity demanded. d. quantity demanded of a country's currency exceeds quantity supplied.
The fact that, for most of its history, the Fed was reluctant to make discount loans actually:
A. pushed the discount rate above the target federal funds rate. B. at times was a destabilizing force for financial markets. C. proved to be a very stabilizing force for financial markets. D. resulted in banks in very strong financial shape as being the only ones borrowing from the Fed.
Monetary policy could be procyclical if the Federal Reserve
A) is late recognizing that a recession has begun and conducts expansionary monetary policy. B) is quick to recognize that a recession has begun and conducts expansionary monetary policy. C) is late recognizing that a recession has begun and does not conduct expansionary monetary policy. D) is quick to recognize that a recession has begun and does not conduct expansionary monetary policy.