________ is an example of a public good.
A. A medical service
B. An automobile
C. A restaurant meal
D. National defense
Answer: D
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Supply-side economics focuses attention on how fiscal policy might be used to
A) shift the aggregate supply curve out. B) increase consumption. C) align aggregate demand and aggregate supply. D) increase aggregate demand to the full-employment level of real GDP.
Suppose that firms in a monopolistically competitive industry are earning positive economic profits. In this situation, you would expect
A. the number of firms in the market to increase. B. each firm will experience an increase in its demand. C. there is a downward shift in the firm’s average cost curve. D. to observe firms reducing their advertising.
Stocks and bonds are similar in the sense that
a. both are sold initially in primary markets and then traded in secondary markets b. both are means of providing firms with the means of financing capital expenditures c. their prices are both perceived as signals of a firm's performance by management d. their values can both be calculated by discounting future payments to obtain a present value e. all of the above
The largest component of GDP is:
a. durable goods. b. net exports. c. personal consumption expenditures. d. government spending.