Which of the following displays these two characteristics: nonrivalry and nonexcludability?
A) a pure private good
B) a pure public good
C) a club good
D) a common pool resource
B
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Compared to the magnitude of the multiplier in an economy without imports, the multiplier in an identical economy with imports is
A) larger only if exports exceed imports. B) smaller only if imports exceed exports. C) always larger. D) exactly the same. E) always smaller.
When a firm sets a price relatively low in order to increase the market share, it is referred as
A) price skimming. B) limit pricing. C) penetration pricing. D) predatory pricing.
Which of the following best describes stagflation?
a. Rising unemployment together with economic growth b. Deflation coupled with a decline in money supply c. Deficits coupled with rising unemployment d. Rising unemployment and high inflation rates e. Inflation coupled with balance of trade deficits
Between 1864 and 1900, the largest portion of railroad track (as a percentage of total annual construction) was laid in which region of the U.S.?
a. the Southeast b. the Northeast c. the Pacific Northwest d. the Great Plains region