Once a ________ good is produced, everyone consumes the same amount, ________ for different individuals.
A. private; but the willingness to pay will be different
B. public; but the willingness to pay will be different
C. public; and the willingness to pay will be the same
D. private; and the willingness to pay will be the same
Answer: B
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Which of the following tariffs resulted in worldwide retaliation against the United States during the Great Depression?
A) the Chicken tariff B) the Pasta Tariff C) the Smoot-Hawley tariff D) the Tariff of Abominations
How are skilled and unskilled workers in an economy likely to be affected if firms adopt skill-biased technologies?
What will be an ideal response?
On the graph above, assuming that G = 0 and NX = 0, the labeled point at which saving is lowest is point ________
A) A B) B C) G D) H E) not inferable from the information given
Elsa is annoyed that it costs her 25 cents to park her car at the city park, which is free to enter. Her friend says _______________, which demonstrates how the government provides public goods.
a. “The city council is lining their own pockets with those quarters.” b. “Those parking fees help keep the park maintained and open for everybody.” c. “The park is free because it doesn’t need any maintenance, but the parking spaces do.” d. “So don’t pay it. What difference does it make?”