For private goods, market demand is the ________ summation of individual demand curves and for public goods, market demand is the ________ summation of individual demand curves.
A. horizontal; horizontal
B. horizontal; vertical
C. vertical; horizontal
D. vertical; vertical
Answer: B
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Both ________ and ________ are monetary liabilities of the Fed
A) securities; loans to financial institutions B) currency in circulation; reserves C) securities; reserves D) currency in circulation; loans to financial institutions
Who among the following is neither employed nor unemployed?
a. Veronica, who is currently jobless because of the recession but is available for work b. Lily, who is a journalism student working as a news reporter c. Steve, who is a civil engineer working at a construction company d. Kate, who is currently jobless gets unemployment benefits and so is not very eager to look for job
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced. B. an unattainable production point. C. what society wants. D. the economy's optimal production point.
At the Larson Bakery the marginal products of the first, second, and third sales clerks are 30, 27, and 21 customers served, respectively. The total product (number of customers served) of the three sales clerks is
A. 30. B. 57. C. 78. D. 109.