A public good can be consumed by
A) only one person who does not have to pay for it.
B) only one person who has to pay for it.
C) everyone simultaneously, as long as they pay for it.
D) everyone simultaneously, even if they do not pay for it.
D
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A free market can be defined as a market structure where all exchanges are voluntary, and prices are free to fluctuate. Does a perfectly competitive market qualify as a free market?
What will be an ideal response?
The Pension Benefit Guarantee Corporation performs a role similar to that of
A) the Federal Reserve System. B) the Comptroller of the Currency. C) the FDIC. D) the Office of Thrift Supervision.
How should per capita real Gross Domestic Product (GDP) be used?
A) It is an accurate measure of economic well-being. B) It is a reasonably good measure of productive activity. C) Per capita real Gross Domestic Product (GDP) is a good gauge of a nation's quality of life because it takes into account a nation's cultural and spiritual values. D) All of the above.
Which of the following is a TRUE statement about the relationship between the price of bonds and the interest rate?
A) The prices of bonds are directly related to the interest rate. B) The prices of bonds increase when the interest rates rise. C) The prices of bonds are unrelated to the interest rate. D) The prices of bonds are inversely related to the interest rate.