A ________ is rival in consumption and viewers are excludable.
A. television signal broadcast through the air
B. television signal sent by cable
C. solar eclipse
D. fireworks show in a local park
Answer: B
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Which is essential to economic growth, whether in Latin America, sub-Saharan Africa, Asia, Europe, or North America?
A) Limits on the use of non-renewable resources B) International aid C) The rule of law D) An effective system of trade tariffs and quotas E) The evolution of a single world currency
In a closed economy, the total quantity of goods demanded equals the sum of
A) consumption spending, investment spending, and government spending. B) consumption spending, national saving, and taxes. C) consumption spending, government spending, and taxes. D) investment spending, national saving, and taxes.
The marginal utilities associated with the first 4 units of consumption of good Y are 10, 12, 9, and 7, respectively. What is the total utility associated with the third unit?
A. 3. B. 9. C. 25. D. 31.
Who is cyclically unemployed?
A) Katrina, an assistant manager who quit her job to search for a better job closer to home B) David, a new car salesman who lost his job because the economy went into a recession C) Samantha, who quit her job to return to college to earn her MBA D) Casey, who lost his job because the technology changed so he was no longer needed E) Kathy, a steelworker who was laid off but has stopped looking for a new job because she can't find a new job