An example of a good that is not excludable is:
A. a candy bar.
B. a movie in a theater.
C. fish in the ocean.
D. wireless connection to the Internet.
Answer: C
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In an open economy, the government purchases multiplier will be
A) smaller as the marginal propensity to consume increases. B) smaller as the marginal propensity to import increases. C) larger as the marginal propensity to tax increases. D) larger as the marginal propensity to import increases.
If a country changes its corporate tax laws so that foreign businesses build and manage more business in that country, then the net capital outflow of that country
a. and the net capital outflow of other countries rise. b. rises and the net capital outflow of other countries fall. c. falls and the net capital outflow of other countries rise. d. None of the above are correct.
Refer to the graph shown. With an effective price floor at $8, the effect is an implicit tax on:
A. consumers equal to $30. B. consumers equal to $50. C. suppliers equal to $50. D. suppliers equal to $30.
The law of supply
A. states that price and quantity supplied are inversely related. B. states that price and quantity supplied are directly related. C. is identical to the law of demand. D. None of these choices are correct.