Because we collectively consume ________ goods, firms in the private sector may not provide them because they ________ exclude those who do not pay.
A. private; can
B. public; can
C. private; cannot
D. public; cannot
Answer: D
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Open market purchase of government securities results in:
A) an increase in bank reserves. B) a decrease in bank reserves. C) an increase in interest rates. D) none of the above.
If total consumption spending is $1,000, the marginal propensity to consume is 0.6, and total output is $2,000, then the constant term is
A) $800. B) $1,000. C) $2,000. D) $1,200.
A person weighing uncertainty and risk is judging the ______ or likelihood of a good or bad outcome,
a. Probability b. Perception c. Psychological extent d. Unwillingness
If the supply curve is more inelastic than the demand curve, then:
A. the sellers will bear a greater tax incidence than the buyers. B. the sellers will bear a smaller tax incidence than the buyers. C. the sellers will bear an equal tax incidence as the buyers. D. Any of these could be true.