Which of the following classifications is correct?
A. City streets are consumption goods because they wear out with use.
B. Stocks are capital goods because when people buy and sell them they make a profit.
C. The coffee maker in the coffee shop at an airport is a consumption good because people buy the coffee it produces.
D. White House security is a government service because it is paid for by the government..
D Answer D is correct.
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Netflix, an online DVD rental service, was established in 1997. In 2008, Netflix has more than 8.2 million subscribers. This technology has ________ in the labor market for video rental clerks
A) decreased demand B) increased demand C) increased supply D) decreased supply
The basic proposition in international trade is that
A) trade is determined by absolute advantage. B) in the long run, imports are paid for by exports. C) everyone is made better off by free trade. D) fair trade is more important than free trade.
If the marginal cost curve of all identical firms in a perfectly competitive industry are horizontal at the same per-unit cost, then the market's consumer surplus equals the area
A) beneath the demand curve and above the marginal cost curve. B) above the demand curve and beneath the marginal cost curve. C) below the marginal cost curve. D) above the demand curve.
Which of the three functions of money are commonly met by each of the following assets in the U.S. economy?
a. paper dollar b. precious metals c. collectibles such as baseball cards, stamps, and antiques