An example of a public good is:
A. natural gas.
B. libraries.
C. timber.
D. national defense.
Answer: D
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To graph a relationship among several variables, we hold all but ________ variable(s) constant and use the ________ assumption
A) one; scarcity B) two; ceteris paribus C) three; scarcity D) one; ceteris paribus E) one; absence of trend
The Phillips Curve shows the trade-off between:
a. unemployment and output. b. inflation and output. c. unemployment and inflation. d. imports and exports. e. unemployment and imports.
A U.S. firm produces sweatshirts in the first quarter of 2010 and adds them to its inventory. In the second quarter of 2010 the firm sells the sweatshirts to consumers. In which quarter(s) does(do) these transactions raise consumption?
a. the first and the second b. the first but not the second c. the second but not the first d. neither the first nor the second
In Figure 45.5, where one union is bargaining against one employer, the highest possible negotiated wage paid to workers will be 
Figure 45.5
A. W*. B. W2. C. W1. D. an undetermined point between W1 and W2.