Which of the following is an example of a nonrival good?
a. food
b. an automobile
c. a view of the sun rising
d. public housing
e. a private apartment
C
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If input prices for a perfectly competitive industry remain constant as the output of the industry expands in the long run, the industry supply curve will:
a. have a positive slope. b. have a negative slope. c. be perfectly horizontal. d. be perfectly vertical.
The Japanese economy is stuck in a recessionary gap. The proper fiscal policy could include a(n)
a. decrease in taxes. b. increase in government purchases. c. increase in transfer payments. d. All of the above are correct.
When the yen gets "stronger" relative to the dollar,
A. the U.S. trade deficit with Japan will rise B. the U.S. trade deficit with Japan will fall C. the U.S. trade deficit with Japan will be unchanged D. None of the above necessarily happens
Capital is a(n) ____ variable and investment is a ____ variable.
A. physical; financial B. stock; flow C. asset; liability D. flow; stock