Which of the following is the best example of a market that exhibits network externalities?
A. Education
B. Agriculture
C. Electricity
D. Social media
Answer: D
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If a freeze destroys much of the crop of an agricultural nation, then
A) the desired investment curve would shift to the left. B) the desired investment curve would shift to the right. C) net foreign lending would increase. D) net foreign lending would decrease.
Which of the following will take place in the foreign exchange market if there is an increase in the demand for products made in the United States?
A) The supply of dollars will decrease. B) The demand for dollars will decrease. C) The demand for dollars will increase. D) The dollar will decrease in value.
Direct majority-rule voting is a form of coercion in the sense that
a. all citizens must vote b. all registered voters must vote c. the median voter's preferences determine the outcome for everyone d. the majority gets exactly what they want, but the minority does not. e. individuals with higher incomes get more votes
Which economic phenomenon is the short-run macro model most useful in explaining?
a. The sources of employment in the long run b. The trend of output in the long run c. The sources of cyclical unemployment d. The reasons why some workers become discouraged e. The sources of long-run economic growth