Which part of the United States has the largest union membership measured as the percentage of civilian employees in unions?
A. south-western states
B. western states that do not border the Pacific Ocean
C. south-eastern states
D. mid-western states
Answer: D
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________ are non-excludable in consumption
A) Public goods and private goods B) Public goods and common pool resources C) Private goods and club goods D) Club goods and common pool resources
The following diagram shows the rate of inflation each year during a five-year span. Use this diagram to answer the next question.
In which year are people on fixed incomes hurt the most?
A. Year 2 B. Year 3 C. Year 4 D. Year 5
Fixed costs do not vary as output changes.
Answer the following statement true (T) or false (F)
In economics we assume that the goal of a firm is to
A. maximize total sales. B. maximize economic profits. C. maximize costs. D. maximize revenue.