Nonrivalry in consumption and the inability to exclude nonpaying consumers from using the goods are characteristics of what kinds of goods?
a. durable
b. nondurable
c. public
d. private
c
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Refer to Figure 2-8. If Vidalia chooses to produce 50 dozen roses, how many orchids can it produce to maximize production?
A) 20 dozen orchids B) 40 dozen orchids C) 60 dozen orchids D) 80 dozen orchids
Edward Denison identified which of the following as the main source of productivity growth in the United States between 1929 and 1982?
A. added labor and capital B. the increase in labor's education and training C. advances in knowledge obtained through research and development D. the improved quality of corporate management
Unemployment that is of a short duration to allow time to find a new job is:
A. structural unemployment. B. cyclical unemployment. C. frictional unemployment. D. durational unemployment.
Scalping activity arises when
A. the prices of goods are restricted to levels below equilibrium prices. B. the quantities of goods demanded and supplied are allowed to adjust to their equilibrium levels. C. the prices of goods are restricted to levels above equilibrium prices. D. the prices of goods are allowed to adjust to their equilibrium levels.