Private goods are goods
A) that carry a price.
B) for which price is greater than zero.
C) for which the more one person has the less is available for someone else.
D) that are produced by the government.
C
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If the current unemployment rate is 5%, under which of the following circumstances would you expect the Fed to use expansionary monetary policy?
A) if the inflation rate is below 5% B) if the natural rate of unemployment is above 5% C) if the natural rate of unemployment is below 5% D) if the inflation rate is above 5%
Due to macroeconomics interdependence between large countries, the effect of a permanent monetary policy expansion by Home is as follows: Home output
A) rises, Home's currency depreciates, and Foreign output may rise or fall. B) falls, Home's currency depreciates, and Foreign output may rise or fall. C) rises, Home's currency appreciates, and Foreign output may rise or fall. D) rises, Home's currency depreciates, and Foreign output rises. E) falls, Home's currency appreciates, and Foreign output may rise or fall.
Total consumer surplus in a market is measured as the
A) area bounded above the market clearing price and beneath the market demand curve. B) area bounded below the market clearing price and above the market supply curve. C) vertical distance from the horizontal (quantity) axis to the market clearing price. D) horizontal distance from the vertical (price) axis to the equilibrium quantity.
Assume the money market is initially in equilibrium. If the price level increases, then according to liquidity preference theory there is an excess
a. supply of money until the interest rate increases. b. supply of money until the interest rate decreases. c. demand for money until the interest rate increases. d. demand for money until the interest rate decreases.