Public goods are usually provided by:
A. private industry.
B. the government.
C. private citizens.
D. internal markets
Answer: B
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An increase in the price level that leads to no expansion of economic activity ________
A) is consistent with classical models B) implies that there has been no change in the money supply C) is a strictly short-run phenomenon D) all of the above E) none of the above
Commodity money is
a. backed by gold. b. the principal type of money in use today. c. money with intrinsic value. d. receipts created in international trade that are used as a medium of exchange.
A monetary system is preferable over the barter system because it
A. is determined by the Congress. B. reduces transaction costs. C. limits cash leakages. D. is easier to track by the government.
Fee-for-service insurance
A. has fewer meddlesome bureaucrats than an HMO. B. does not allow patients to pick their own doctor. C. requires you pay for services before they are performed. D. is typically less expensive than an HMO covering the same illnesses.