People who live in apartment buildings across from a football stadium are able to watch football games from the balconies of their apartments instead of paying for tickets to sit inside the stadium. For these free riders, the football games are
A) rival and excludable.
B) rival and nonexcludable.
C) nonrival and excludable.
D) nonrival and nonexcludable.
D
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High expected inflation leads to ________ increases in wages and costs and to ________ actual inflation.
A. small; high B. large; low C. large; high D. small; low
The Fed's policy tools include all the following except _______
A. required reserve ratio and open market operations B. quantitative easing C. discount rate D. taxing banks' deposits at the Fed
According to research, after the Tax Reform Act of 1986, the effective marginal tax rate on equipment has
A. decreased substantially. B. stayed basically the same. C. increased. D. decreased slightly.
The long-run supply curve in a competitive market is upward-sloping
Indicate whether the statement is true or false