Once a public good is produced, everyone
A. consumes the same amount, but the willingness to pay will be different for different individuals.
B. can consume a different amount and pay different prices for the product.
C. consumes the same amount and everyone's willingness to pay is the same.
D. can consume a different amount depending on their willingness to buy the good.
Answer: A
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In examining two variables, we find that as one variable changes, the other changes. These variables are said to be
A) statistics. B) independent. C) casually related. D) correlated. E) significantly related.
In September 2014, the labor force participation rate fell from 62.8 percent to 62.7 percent. This change could have been caused by
A) unemployed workers giving up looking for a job. B) full-time workers becoming part-time workers. C) unemployed workers getting full-time jobs. D) discouraged workers starting to look for jobs again.
Refer to the above figure. Suppose we are at E* and the dollar weakens. Which aggregate supply curve must apply if the price level increases?
A) 3 only B) 4 only C) 5 only D) 4 or 5
In the above figure, through which range would the demand for this good be most inelastic?
A) A-B B) B-E C) E-F D) G-H