Which of the following is a public good?

a. an economics lecture
b. a television set
c. higher education
d. housing
e. clean air


E

Economics

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The money supply consists of:

A) currency plus reserves. B) currency plus required reserves. C) currency plus excess reserves. D) currency plus demand deposits.

Economics

In the long run, a monopolistically competitive firm produces at minimum average cost.

Answer the following statement true (T) or false (F)

Economics

The accompanying figure below shows a single consumer's demand for ice cream at the student union.During a regular semester, there are 500 students on campus. Each student's weekly demand for ice cream is shown above. When the price of ice cream is $2.00 per scoop, those 500 students purchase a total of ________ scoops per week from the student union.

A. 2,500 B. 3,000 C. 2,000 D. 5,000

Economics

A key assumption in the classical model is

A. sticky prices. B. the government's ability to stabilize the economy. C. sticky wages. D. pure competition.

Economics