A characteristic of a public good is that a public good is provided
A) to some businesses, but not to others.
B) only in some states.
C) to low income residents in some states.
D) to many individuals at no additional cost.
Answer: D
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Automatic stabilizers smooth fluctuations in the economy because they produce changes in the government's budget that
A. reinforce changes in GDP. B. produce a dynamically-adjusted budget. C. produce a standardized budget. D. help offset changes in GDP.
If aggregate expenditure is more than GDP, then inventories fall and GDP rises
Indicate whether the statement is true or false
The situation in which a firm charges different prices for different blocks of output is referred to as:
A) first-degree price discrimination. B) second-degree price discrimination. C) third-degree price discrimination. D) fourth-degree price discrimination.
Which of the following bonds would have the highest default risk?
A) municipal bonds B) investment-grade bonds C) U.S. Treasury bonds D) junk bonds