An example of an intermediate good would be:
A. a bag of Uncle Ben's rice sold to consumers.
B. the rice used to make Chex cereal.
C. a bag of Quaker's rice cakes sold to consumers.
D. All of these are intermediate goods
Answer: B
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According to the Coase Theorem, so long as property rights are established and transactions costs are low, plaintiffs in court cases involving externalities will not care which way a judge decides.
Answer the following statement true (T) or false (F)
Raising taxes on interest and dividend income will increase the level of investment and economic growth
Indicate whether the statement is true or false
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
GoodPrice Increase Last YearAmusement park tickets5.0%Bowling balls4.2%Camouflage neckties3.1% Refer to Table 8.1, which gives hypothetical data on price changes for three goods. Which good(s) became relatively more expensive for buyers?
A. All three goods became relatively more expensive. B. None of the goods became relatively more expensive. C. Only amusement park tickets became relatively more expensive. D. It depends on the overall rate of inflation in the economy.