Highway traffic is a mixed good because
a. some people like it and others do not
b. drivers creates costs that are borne by other drivers
c. it is not free of charge
d. because highways are rivalrous, but not easily excludable
e. because highways are excludable, but not easily rival
D
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A patent is a government-imposed entry barrier because
A) it is a key input owned by the firm that is granted the patent. B) it allows a firm to achieve economies of scale. C) it gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented. D) it limits the quantity of a good that can be imported into a country.
A restaurant chain announces declining revenues. What's the name of the type of risk that this news raises for holders of this chain's bonds? What does this news to do the interest rate on this chain's bonds?
Which of the following activities, ceteris paribus, will cause increased demand for euros?
a. Disney World lowers its ticket prices. b. The winter Olympic games are held in Italy. c. German residents purchase stock in American Airlines. d. U.S. interest rates rise compared to European interest rates.
To combat inflation in 1955 and 1956, the Fed reduced the money supply. In terms of the AS/AD model, this change should have:
A. made the AD curve flatter. B. shifted the AD curve to the right. C. shifted the AD curve to the left. D. made the AD curve steeper.