Which of the following provides the best example of a public good?
a. elementary and secondary education
b. residential trash pickups provided by a local government
c. an unscrambled television signal
d. the medical services provided by a local hospital
C
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Refer to Figure 15-10. What is the area that represents producer surplus under a monopoly?
A) the triangle 0P3H B) the rectangle P1P3HF C) the trapezium 0P1FH D) the triangle 0P2E
U.S. job losses cited by anti-trade critics
A) are mostly a short-term problem in isolated industries. B) are non-existent. C) affect only capital-intensive U.S. industries. D) are mostly due to poor training by U.S. firms.
Which of the following would cause an increase in the supply of wheat?
a. an increase in fertilizer costs b. a decrease in the price of bread c. a decrease in the price of corn d. an increase in land prices e. an expectation that the price of wheat will be higher next period
Except for World War II, the U.S. deficits from 2009 to 2012 were the largest deficits in the nation's history relative to GDP, even larger than during the Great Depression
a. True b. False Indicate whether the statement is true or false