Goods that are rival in consumption and excludable are:
A. a private good.
B. a common resource.
C. a public good.
D. an artificially scarce good.
Answer: A
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If the current interest rate increases,
a. the money demand curve shifts downward and the money supply curve remains unchanged. b. the money demand curve shifts upward and the money supply curve remains unchanged. c. there is a movement along the money demand curve and the money supply curve increases. d. there is a movement along the money demand curve and the money supply curve remains unchanged.
Refer to the table below. What is the profit-maximizing price for Gorgeous Sands Resort to charge during the peak period?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $7,000
B) $7,800
C) $8,000
D) $10,000
To be officially counted as unemployed, a person must be
A) at least 16 years old. B) at least 18 years old. C) at least 21 years old. D) any age, so long as you are looking for work.
Suppose that X and Y are substitutes. If the price of Y increases, how will this change the market equilibrium for X?
a. Equilibrium price declines, and equilibrium quantity rises. b. Equilibrium price rises, and equilibrium quantity falls. c. Equilibrium price and quantity both decline. d. Equilibrium price and quantity both rise.