An example of a public good that is difficult to make excludable is:
A. state universities.
B. city buses.
C. police protection.
D. toll roads.
Answer: C
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Government spending in the United States has grown over time and now accounts for more than forty percent of United States national income. Does this mean that government has been consistently running a budget deficit?
What will be an ideal response?
What caused a major economic shock in August 2007?
A) U.S. mortgage market B) war in Iraq C) U.S. bond market D) technology stocks E) misreporting from Asian markets
In a competitive labor market a firm will continue to employ workers for as long as an additional worker's marginal revenue product is below the wage rate
a. True b. False Indicate whether the statement is true or false
Which of the following characteristics of a PPF indicates that tradeoffs must be made?
a. the downward slope b. the upward slope c. the constant slope d. the curvature