A public good:
A. is a good that is nonrival.
B. is a good that is excludable.
C. is any good provided by the government.
D. All of these are true about public goods.
A. is a good that is nonrival.
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Which of the following statements is false?
A) Each year the United States exports about 50 percent of its wheat crop and 20 percent of its corn crop. B) Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs. C) Not all sectors of the U.S. economy are affected equally by international trade. D) Most of the leading exporting countries are large, high-income countries.
The Celler-Kefauver Act of 1950 amended the:
a. Sherman Antitrust Act. b. Clayton Act. c. Federal Trade Commission Act. d. Robinson-Patman Act.
When spending falls short of output, additional inventories are created
a. True b. False Indicate whether the statement is true or false
If the wage rate increases and firms in a perfectly competitive industry are hiring labor, then
A) the firms will quit using labor.
B) profits will increase.
C) market supply will decrease.
D) market price will decrease.