A streetlight is a
a. private good.
b. club good.
c. common resource.
d. public good.
d
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Financial markets and financial intermediaries comprise the financial system
Indicate whether the statement is true or false
The effect of opening trade between countries is
a. living standards rise in the country with efficient, high-pay workers. b. both countries can exploit comparative advantage and increase productivity. c. total world production increases as both countries specialize in specific goods. d. All of the above are correct.
Suppose prices for new homes have risen and sales of new homes have also risen. We can conclude that
a. the demand for new homes has risen. b. the law of demand has been violated. c. new firms have entered the construction industry. d. construction firms must be facing higher costs.
An increase in the money supply causes output to rise in the long run
a. True b. False Indicate whether the statement is true or false