A public good is
a. any good produced by a unit of government.
b. priced in the market like private goods.
c. the source of the free-rider dilemma.
d. only consumed by the purchaser.
Ans: c. the source of the free-rider dilemma.
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The value of the WhatsApp Messenger to an individual user increased as more of his friends and acquaintances started using it. This is an example of a(n) ________
A) moral hazard B) adverse selection C) network externality D) negative externality
If the price level in the United States is 110, the price level is 120 in Mexico, and the nominal exchange rate is 140 pesos per dollar, what is the real exchange rate from the U.S. perspective?
A) 94 B) 115 C) 128 D) 153
Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 
Figure 15.4 Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $75 and is a monopolistically competitive firm. If this firm is attempting to maximize profits, the firm's profit is
A. -$175. B. -$100. C. -$75. D. $0.
Imagine that you borrow $5,000 for one year and at the end of the year you repay the $5,000 plus $600 of interest. If the inflation rate was 4%, what was the real interest rate you paid?
A) 16 percent B) 12 percent C) 8 percent D) 6 percent