Public Goods and Service
Why does a good or service become a public good or service?
The official “poverty line” computed by the federal government is the income level needed to meet the perceived fundamental needs of families along with differing characteristics as size, location, etc. Therefore, it is based on: (1) a rel
An increase in the production of stereos at similar time that consumers expect a price decline would outcomes in ______ in equilibrium price as well as equilibrium quantity will ______: (w) decrease; be uncertain. (x) increase; be uncertain. (y) decrease; decrease. (z
A large negative GDP gap implies: A) an excess of imports over exports. B) a low rate of unemployment. C) a high rate of unemployment. D) a sharply rising price level.
Price elasticities of supply and demand do NOT: (w) reflect desperation for goods and customers by buyers and sellers, respectively. (x) rise as the time period considered is expanded. (y) find out the economic incidence of a tax. (z) find out the leg
Most historical studies intended to categorize and quantify poverty within the United States: (w) consider both assets as well as money income. (x) conclude which almost one-half of all families are below the poverty level. (y) suggest that from the 1
When resource markets are competitive and transaction costs are low, in that case landowners: (1) pass forward completely any land tax. (2) can drive up the rental rate of land by changing its supply. (3) bear the full burden of any t
The point is inevitably reached where an individual derives less extra enjoyment from the extra units of any good. This is mainly well-suited with: (i) Supply curves that slope-up and to right. (ii) Concave (or bowed out) production possibilities frontiers. (iii) The
As comparing income and wealth: (w) differences in their distributions reflect economic discrimination precisely. (x) wealth is a flow variable, whereas income is a stock variable. (y) inheritance explains income differences more totally than wealth d
In illustrated graph below, supply is mostly perfectly price inelastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Minimum average variable cost at When the minimum average variable cost exceeds price, in that case a firm produces: (w) where MR = MC into the short run. (x) only in the long run. (y) in the short run although shuts down in the long run. (z) nothing in the short run. Discover Q & A Leading Solution Library Avail More Than 1431330 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923618 Asked 3,689 Active Tutors 1431330 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
When the minimum average variable cost exceeds price, in that case a firm produces: (w) where MR = MC into the short run. (x) only in the long run. (y) in the short run although shuts down in the long run. (z) nothing in the short run. Discover Q & A Leading Solution Library Avail More Than 1431330 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923618 Asked 3,689 Active Tutors 1431330 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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