In the United States, which of the following is an example of a government-sponsored good?
A. wireless networks
B. cable TV service
C. community college education
D. cigarettes
Answer: C
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Consumption spending is $5 million, planned investment spending is $8 million, actual investment spending is $8 million, government purchases are $10 million, and net export spending is $2 million
Based on this information, which of the following is true? A) Aggregate expenditure is greater than GDP. B) Aggregate expenditure is equal to GDP. C) There was an unplanned change in inventories. D) Aggregate expenditure is less than GDP.
When there is an Equilibrium (or a Nash Equilibrium), we expect that:
a. once the firms get there, no one will change their strategy. b. firms will tend to select a randomized strategy. c. neither firm will care what it does. d. this is always a dominated strategy.
Firms in an industry cannot earn long-run economic profits if:
A. production costs for a given level of output are minimized. B. there is free entry and exit of firms in the industry. C. the number of firms in the industry is fixed. D. fixed costs are zero.
The roots of the European Union are in agreements within the coal and steel industries
Indicate whether the statement is true or false