Which if the following is the best example of a public good?
a. Bread. b. Fish in the ocean.
c. Scrambled satellite broadcasts. d. National defense.
d
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Which of the following statements is true?
A) The wages expected by potential workers are independent of their work experience. B) Some people seeking paid jobs may not be able to find employment. C) The wages expected by potential workers are independent of their educational qualifications. D) All people seeking paid jobs are eventually employed.
The IS curve will shift to the right if:
a. the government deficit decreases. b. consumer confidence decreases. c. the MPC decreases. d. taxes decrease. e. the money supply increases.
In the basket of goods that is used to compute the consumer price index, which of the following categories of consumer spending is the smallest?
a. education & communication b. apparel c. medical care d. recreation
In the short run, in a perfectly competitive market, a firm will shut down if
A) P < AVC for all levels of output. B) P < ATC for all levels of output. C) ATC > P > AVC for all levels of output. D) P > AFC for all levels of output.