Which of the following goods is the best example of a public good?
a. garbage-collection services that are provided by a municipal government
b. music that is broadcast over the airwaves by a privately-owned FM radio station
c. electricity that is provided to farmhouses by a rural electric cooperative
d. cable TV services that are provided by a privately-owned firm that is regulated by the government of the city in which it operates
b
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In which of the following contracts is the agent's payment unaffected by his performance?
A) fixed-fee contract B) hire contract C) contingent contract D) sharing contract
Which of the following is true of exports and imports? a. Both imports and exports are added to a nation's gross domestic product (GDP)
b. Both imports and exports are subtracted from a nation's gross domestic product (GDP). c. Imports are added and exports are subtracted from a nation's gross domestic product (GDP). d. Exports are added and imports are subtracted from a nation's gross domestic product (GDP). e. Neither imports nor exports are included in a nation's gross domestic product (GDP).
Based upon the information shown, what is total revenue for Bearclaws, given that it maximizes profits?
A. $1,080. B. $900. C. $490. D. $980
What do government purchases include in national income accounting?
A. Government transfer payments B. Purchases of goods for consumption but not public capital goods C. Purchases by federal, state, and local governments D. Purchases by the federal government only