Refer to Table 1-6. Using marginal analysis, how many hours should Ivan extend his hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
D
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A free rider
A) benefits from a positive externality without paying for it. B) has a horizontal demand curve. C) places no value on the good provided. D) All of the above.
Which of the following policy actions by the Fed would cause the money supply to decrease?
a. An open market purchase of government securities. b. A decrease in required reserve ratios. c. A decrease in the discount rate. d. An open-market sale of government securities.
Federal deficits had become pretty much an annual event during the 25-year period 1970–1995 . Deficits occur when
a. government spending is greater than tax revenue b. government spending equals tax revenue c. government spending is less than tax revenue d. government surpluses are taxed e. the national debt is reduced
Government provides secondary education because of its private good aspects.
Answer the following statement true (T) or false (F)