Which of the following statements about the private production of a public good is true?
a. Private production is not feasible unless government subsidizes it.
b. Private production is only possible for pure public goods.
c. Private production is always inefficient.
d. Private production is provides useful information about consumer preferences.
d
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A level of GDP cannot be at equilibrium when aggregate demand exceeds output because firms will notice that
A. inventory stocks are building up. B. inventory stocks are being depleted. C. their profits are negative. D. many of their workers have little to do.
Refer to the figure above. What is the equilibrium rate of interest when the credit demand curve is CD1 and the credit supply curve is CS1?
A) 2% B) 3% C) 5% D) 4%
Discuss the Corn Laws and their purpose
What will be an ideal response?
It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment
a. True b. False Indicate whether the statement is true or false