Which of the following is an example of state spending?
a. the state police who stopped to assist you when you had a flat tire
b. the state campground where your family vacations
c. state water quality inspections
d. all of the above
Ans: d. all of the above
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In the Classical view, the money supply determines
A) interest rates. B) the saving rate. C) aggregate supply. D) the price level.
You enter a store and buy a bottle of soda. Do you usually receive consumer surplus?
A) Yes, because you wouldn't buy the soda if your willingness to pay would be less than the price. B) Yes, because you are thirsty. C) No, because you value other drinks more. D) No, because you have less money after the transaction.
If the price is $20 per unit, what is the break even amount of units for technology A?
a. 50 b. 60 c. 70 d. None-They would have to shut down
A free good is:
A) also a scarce good. B) a relatively abundant good. C) a good with no opportunity cost. D) a good with relatively low opportunity cost.