Assume there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pay for it. This characteristic is called:
A. Nonrivalry
B. Nonexcludability
C. Nontaxability
D. Nondiscrimination
B. Nonexcludability
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Which of the following is an impact of a rent ceiling set below the equilibrium rent?
A) Renters find apartments to rent more rapidly because the rent ceiling is lower. B) Landlords' incentives to provide apartments decrease. C) The supply of apartments increases as soon as the rent ceiling is imposed. D) A surplus of housing occurs. E) Search for apartments decreases because renters need no longer search for the apartment with the lowest rent.
Americans buying Japanese cars create a
A) demand for U.S. dollars and supply of Japanese yen. B) demand for both U.S. dollars and Japanese yen. C) supply of U.S. dollars and demand for Japanese yen. D) supply of both U.S. dollars and Japanese yen.
If the number employed is 190 million, the number unemployed is 10 million, and the working-age population is 250 million, then the labor force participation rate is
A) 4%. B) 5.2%. C) 60%. D) 76%. E) 80%.
Keynesian economists believed that economic slowdowns are self-correcting.
Answer the following statement true (T) or false (F)