A waitress brings a free glass of water when you sit down in a restaurant. This glass of water is
A) a service because the waitress carried it instead of making it.
B) a good, but not an economic good because there is no price charged for the water.
C) a bad because there is no price charged for the water.
D) an economic good because the water is a scarce resource, even if it is free to you.
Answer: D
You might also like to view...
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
The table above shows the marginal costs and marginal benefits of college education. The efficient amount of enrollment is
A) 12 million. B) 20 million. C) 16 million. D) 24 million.
If a monopoly's demand curve shifts to the right, the monopoly
A) will charge a higher price. B) will charge a lower price. C) will sell more. D) decision cannot be determined.
When money is held as an asset, it is serving as a:
A. unit of account. B. standard of value. C. medium of exchange. D. store of wealth.