Steve takes $500 from his paycheck and uses it to purchase U.S. Savings Bonds. Based on this information:
A. Steve has a capital gain of $500.
B. Steve's saving has increased by $500.
C. Steve's saving has decreased by $500.
D. Steve's wealth is unchanged.
Answer: B
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Refer to Table 21.2. What is the median income in Mysteria?
A) $5,000 B) $9,000 C) $10,000 D) $17,000
The modern Keynesian approach to cure a recession might include
A. Expanding the money supply or reducing government spending. B. Contracting the money supply or reducing government spending. C. Contracting the money supply or increasing government spending. D. Expanding the money supply or increasing government spending.
Use the following graphs to answer the next question.
The graphs show the long-run average total cost (LRATC) curve for cars. For which graph is the output level Q0 at minimum efficient scale?
A. Graph 1 B. Graph 2 C. Graph 3 D. Graph 4
A public good is ________ and ________.
A) excludable; nonrival B) nonexcludable; rival C) excludable; rival D) nonexcludable; nonrival