Roger pays $20 per month to access unlimited movies on Netflix. In this scenario, the streaming of movies would best be classified as a:
a. merit good
b. club good.
c. public good.
d. private good.
b
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During the worst year of the Great Depression, according to the official statistics, about what percentage of the labor force was unemployed?
(a) 10% (b) 15% (c) 25% (d) 35%
There are two consumers in the market, Jack and Jane. Each have some coffee and candies (coffee on the horizontal axis). Jack's MRS of candies for coffee is 3. Jane's MRS of candies for coffee is 3
Which one of the following statements is incorrect? A) This allocation is on the contract curve. B) This can be a competitive equilibrium. C) This allocation is Pareto efficient. D) We can reallocate goods so as to make one person better off without harming another.
Suppose Bright Orange is large firm that grows and harvests oranges. Each orange yields 2 ounces of orange juice and exactly one orange peel. The market for oranges is perfectly competitive and Bright Orange sells the orange juice to juice distributors and the orange peels to fragrance companies. At a quantity of 400,000 oranges, juice distributors will pay $0.04 per ounce of orange juice and
fragrance companies will pay $0.15 per orange peel. At the quantity of 400,000 oranges, what is the market equilibrium price of an orange? A) $0.11 B) $0.25 C) $0.23 D) $0.19
Suppose the number of pesos per U.S. dollar is 3 . The aggregate price level in Mexico is 90, and the real exchange rate between the two countries is 2 . The aggregate price level in the United States is _____
a. 60 b. 45 c. 50 d. 55