The national defense of the United States is not excludable because
a. my enjoyment of the national defense does not diminish your enjoyment of the national defense of the United States.
b. my enjoyment of the national defense does diminish your enjoyment of the national defense of the United States.
c. once the nation is defended, it is impossible to prevent any single person from enjoying the benefit of this defense.
d. once the nation is defended, it is possible to prevent any single person from enjoying the benefit of this defense.
c
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On-the-job experience causes labor productivity to increase through an improvement in human capital
a. True b. False Indicate whether the statement is true or false
Exhibit 4-8 Demand and supply curves
In Exhibit 4-8, a movement from A to B in which price has decreased and quantity has increased is best explained by a(n):
A. increase in supply and demand. B. decrease in supply and demand. C. increase in supply that dominates a decrease in demand. D. increase in demand that dominates a decrease supply.
Consider a country with a fixed exchange rate that is experiencing a deficit in its overall payments balance. Show graphically (using IS-LM-FE) and explain how a change in domestic monetary policy could attempt to quickly eliminate the payments deficit. What could be a possible threat to the economy due to the policy change?
What will be an ideal response?
When firms earn above normal rates of return
A. they tend to leave the industry and seek profits elsewhere. B. they are still breaking even economically. C. they are able to raise their prices to increase their profits. D. they are earning positive profits and new firms are likely to enter the industry.