Inoculation programs against certain diseases such as small pox, polio, and whooping cough create:
a. nonrival goods.
b. external costs to society equal to the costs of the program.
c. nonexcludable goods.
d. public goods.
e. positive externalities in consumption
e. positive externalities in consumption
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By the 15th century, Catholic Europe had emerged victorious after years of war with:
a. the Norse. b. Chinese mercenaries. c. Muslim armies. d. India.
The goods and services purchased from foreign sources are:
A.) Investment. B.) Exports. C.) Imports. D.) Income transfers.
Aggregate supply can be thought of as
A. a fixed amount of output. B. unrelated to the price level. C. a schedule of output at different price levels. D. the volume of goods at the ends of the production possibilities curve.
When the required reserve ratio is changed,
A. the money multiplier is changed but the amount of excess reserves in the banking system is unchanged. B. the money multiplier is unchanged but the amount of excess reserves in the banking system is changed. C. the size of the money multiplier and the amount of excess reserves change in the opposite direction from the required reserve ratio. D. the size of the money multiplier and the amount of excess reserves change in the same direction as the required reserve ratio.