A ______ good is something whose consumption by one person does not prevent its consumption by other people.
Fill in the blank(s) with the appropriate word(s).
public
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
The money multiplier equals 1/(1 - R), where R represents the reserve ratio
a. True b. False Indicate whether the statement is true or false
When you go to a baseball game your ticket specifies your seat and section of the stadium where the seat is located. Assuming the seats all cost nearly the same to install and maintain, what pricing strategy would you expect the team officials to adopt if a full stadium with a maximum of satisfied customers and at least normal profit is the goal?
A. Price all seats at cost, which includes normal profit. B. Price above cost for seats with the best view and below cost for less desirable seats so the gain from those willing to pay more for the best seats offsets the loss on the cheap seats. C. Price all seats above cost so if there are empty seats, at least total costs can hopefully be covered. D. Price above cost for the seats with the best view and price at cost for the rest even if this means the stadium is not full. At least total cost with normal profit will be achieved.
The sum of value added
A. Is one way to compute the GDP. B. Equals the sum of the value of intermediate goods. C. Measures the intangible quality of goods and services produced in the economy. D. Equals net domestic product.