Recall the Application about the benefits provided by the LoJack auto recovery system to answer the following question(s).Recall the Application. LoJack is system that allows the police to track stolen cars. LoJack is a ________ good that generates ________.
A. public good; external benefits
B. public good; no external benefits
C. private good; external benefits
D. private good; no external benefits
Answer: C
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The slope of a line
A) can never equal zero. B) is always a constant. C) measures the ratio of the change in the value of the y-axis variable relative to the change in the value of the x-axis variable. D) measures the value of the y-axis variable relative to the value of the x-axis variable.
The Keynesian cause-and-effect sequence predicts that an increase in the money supply will cause interest rates to:
a. fall, boosting investment and shifting the AD curve rightward, leading to an increase in real GDP. b. fall, boosting investment and shifting the AD curve rightward, leading to a decrease in real GDP. c. rise, cutting investment and shifting the AD curve rightward, leading to an increase in real GDP. d. rise, boosting investment and shifting the AD curve rightward, leading to an increase in real GDP. e. fall, cutting investment and shifting the AD curve leftward, leading to a decrease in real GDP.
If a specific segment of a demand curve is price elastic, then we know that anywhere along that segment, the
a. percentage change in the quantity demanded exceeds one b. percentage change in quantity demanded exceeds the percentage change in price c. percentage change in price exceeds the percentage change in quantity demanded d. the change in quantity demanded exceeds the change in price e. the good has no close substitutes
A labor market application of the legal cartel theory of regulation would be:
A. Unemployment benefits B. The Full Employment Act C. Equal Employment Opportunities provisions D. Occupational licensing