State universities and community colleges, the National Endowment for the Arts, public libraries, art galleries, and museums are all examples of
a. exclusive goods
b. rival goods
c. merit goods
d. public goods
e. private goods
C
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The main sources of economies of scale are
A) increasing marginal cost and decreasing marginal product. B) specialization of resources such as labor and capital. C) caused by the difficulty of coordinating and controlling large enterprises. D) decreasing marginal cost and increasing marginal product. E) an increase in a firm's bargaining power to lower the wage rate and the cost of capital as the firm's output increases.
How should a financial plan of an older saver differ from that of a younger saver?
What will be an ideal response?
When a researcher evaluates the probability of an event by looking at how representative the sample is of the population of interest instead of the entire population, he is using:
a. an elimination heuristic. b. an availability heuristic. c. a representative heuristic. d. a recognition heuristic.
The United States ran a trade deficit in 40 of the 45 years in which period?
a. 1800–1845 b. 1831–1875 c. 1845–1899 d. 1856–1900