Goods that are not rival in consumption, but are excludable are:
A. a common resource.
B. a private good.
C. a public good.
D. an artificially scarce good.
D. an artificially scarce good.
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A law that prohibits certain kinds of market behavior such as monopoly and monopolistic practices is called ________
A) a consumer surplus law B) a trust law C) an antitrust law D) an anti-monopoly law
Which of the following macroeconomic variables is the most seasonally procyclical?
A) Expenditure on services B) The unemployment rate C) Expenditure on durable goods D) The real wage
Classical economists reject the laissez-faire theory that the economy would self correct to full employment without government interference
a. True b. False Indicate whether the statement is true or false
The blame for failing to address the budget deficits of the 1980s and early 1990s
a. is clearly the fault of the Republican administrations. b. is clearly the fault of the Democratic Congresses. c. is a political question rather than an economic question. d. is an economic question rather than a political question.