The following is an example of a pure public good
A. national defense.
B. Yellowstone National Park.
C. public education.
D. clean air.
Answer: A
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An exchange rate that is set by official government policy is called a ________ exchange rate.
A. nominal B. fixed C. real D. flexible
The bargaining power of buyers increases if
A) the input in question is not a critical component of production. B) there are wide variations in the quality of inputs from supplier to supplier. C) there are many large buyers. D) the input in question has few substitutes.
If the economy in the graph shown is currently at point B, and the government enacts contractionary fiscal policy, in the short run the economy will most likely move to point:
A. A
B. It is likely to be unaffected and stay at point B
C. C
D. D
Can economic analysis precisely determine the proper levels of government spending and taxation? In your answer explain the problems in using cost-benefit analysis
Please provide the best answer for the statement.