If you get a flu shot and by taking it, you help prevent the spread of the disease, then the flu shot is:
A. a private good with external benefits.
B. a private good with external costs.
C. a public good with external benefits.
D. a public good with external costs.
Answer: A
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. Central banks, as they conduct monetary policy, inevitably affect only ___________, with no lasting impact on ___________ in the long run.
A. prices; employment B. employment; prices C. output; prices D. demand; employment
Inflation:
a. Always affects productivity. b. Is likely to affect productivity when the inflation rate is high and volatile. c. Does not affect productivity. d. Creates incentives to work more.
Input demand is called derived demand because:
a. demand for an input is derived from the demand for the product or service it produces. b. demand for the output produced is also derived from consumer demand. c. demand for an input is derived from its availability in the input market. d. input demand actually determines how much output is produced.
BHP Billiton is a Canadian company that owns mines in Canada that
A) produce nickel. After World War II, BHP Billiton began to compete with another Canadian firm, the International Nickel Company. This competition eventually ended International Nickel's monopoly in this market. B) produce bauxite, the mineral needed to produce aluminum. BHP Billiton began to mine bauxite after World War II. This competition eventually ended the Aluminum Company of America (ALCOA)'s monopoly in this market. C) produce coal. Until World War II, BHP Billiton had a monopoly on coal in Canada. D) produce diamonds.