Which one of the following is NOT a characteristic of public goods?
A) They are indivisible.
B) It is difficult to charge people on the basis of how much they use.
C) Public goods can be used by increasing numbers of people at no additional cost.
D) Public goods are subject to the principle of rival consumption.
Answer: D
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The expenditure approach measures GDP by adding the spending of households, businesses, government, and foreigners
a. True b. False Indicate whether the statement is true or false
If a new computer program was developed that dramatically improved productivity in most firms, what would happen in the labor market?
a. The real wage would not change but employment would decrease. b. The real wage would increase and employment would decrease. c. The real wage would decrease and so would employment. d. The real wage would decrease and employment would increase. e. The real wage would increase and so would employment.
In comparing the changes in actual budget surplus and the structural surplus between 1993 and 1999, it is clear that the
A. actual surplus rose less than the structural surplus. B. actual surplus and the structural surplus rose about the same. C. actual surplus rose much more than the structural surplus. D. tax increases of 1993 decreased the structural surplus more than they decreased the actual surplus.
There are a number of reasons why labor supply curves will shift in a particular industry. Which one of the following is NOT one of them?
A) Changes in working conditions in an industry affect the labor supply curve. B) job flexibility that determines the position of the labor supply curve C) There is a change in the market wage rate. D) Taxes on labor affect the labor supply curve.