In contrast to private goods, public goods such as public radio are such that one person's consumption ________ diminish the amount available to others, and those who supply the public good ________ exclude those who do not pay
a. does; can
b. does not; can
c. does; cannot
d. does not; cannot
d
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Which of the following is a characteristic of pure capitalism?
a. all resources are owned communally b. economic activity is coordinated by government decision makers c. the price system is used to guide resources to their highest-valued uses d. centralized economic planning is used to answer the basic economic questions e. individual choices are reflected only through collective decisions
In the basic aggregate expenditures model, a decrease in autonomous expenditure
A. increases equilibrium output. B. reduces equilibrium output. C. reduces potential output. D. increases potential output.
If lenders think that a particular borrower might default, they will demand a:
A. higher interest rate to decrease the amount of risk incurred. B. lower interest rate to decrease the amount of risk incurred. C. higher interest rate to make it worth taking that risk. D. lower interest rate to make it worth taking that risk.
According to this Application, some economists noticed that the change in the value of the U.S
dollar was largely due to the change in interest rates, and the change in interest rates occurred because of the Fed's use of ________ to further stimulate the economy. A) quantitative easing B) open market purchases C) open market sales D) discount operations