Which of the following is an example of a quasi-public good?
A) stock of knowledge in the public domain B) crime prevention
C) cable television D) organic apples
C
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A general sales tax and a value-added tax have _____
a. a common tax base b. nothing in common c. rates in common d. investment as a tax base e. a and d
The value of the SDR is currently based on the ________.
A) euro B) U.S. dollar C) weighted average of four currencies D) weighted average of six currencies
Refer to the above figure. The long-run average cost curve and the long-run marginal cost curves represent
A. the cost curves for a natural monopoly. B. a situation where a firm has control over the raw materials. C. a situation where a firm has a patent. D. the cost curves for a competitive firm.
One of the possible consequences of the expenditure schedule lying below the level of full employment GDP is
a. unemployment. b. rising prices. c. increasing production. d. decreasing inventories.