A well-maintained house and yard is an example of
A. a positive externality.
B. a public good.
C. a negative externality.
D. logrolling.
Answer: A
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From 1950 to 2015 the number of people who lived on farms fell from 23 million to fewer than 3 million? Which of the following factors have contributed to this trend?
A) government policies that have increased the cost of living and working on farms B) increases in the cost of farming and a desire for young adults to move to urban areas C) rapid growth in farm production and low income and price elasticities for food products D) slow growth in agricultural productivity and low income elasticities for food products
The price system rations goods among consumers in such a way that
A. all are treated equally. B. all needs are satisfied. C. the rich are favored. D. important needs are satisfied first.
Which statement is true?
A. Shutting down is a long run option. B. Going out of business is a short run option. C. Continuing to operate is a short run option.
In Figure 6.1, which area represents a trough? 
A. A B. B C. C D. D