If your state legislature passes legislation requiring motorcycle riders to wear helmets, then helmets are
a. merit goods
b. goods that everyone wants
c. public goods
d. nonrival goods
e. nonexclusive goods
A
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In the years before the Civil War, Southern states, because of high protective tariffs, were forced to buy most of their manufactured goods from _________.
Fill in the blank(s) with the appropriate word(s).
Which of the following does not impact aggregate demand in the Keynesian model?
a. Changes in the supply of labor b. Net exports c. Household consumption d. Desired business investment demand e. Government purchases of goods and services
The total utility of a good is equal to the marginal utility of the last unit consumed
a. True b. False Indicate whether the statement is true or false
Assume that a doctor makes $200 per hour, a lawyer $250 per hour, an architect $140 per hour, a professor $50 per hour, and a waiter $35 per hour. Which of these professionals is most likely to spend time to negotiate with a car dealer?
a. The doctor b. The lawyer c. The architect d. The professor e. The waiter