Which of the following is NOT an example of a good or service provided by a market?
A. Metered street parking in Sacramento, California
B. Pizza in Toledo, Ohio
C. The air we breathe
D. Illegal sports betting
Answer: C
Economics
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For most firms in the economy, the largest part of factor costs is the cost of
a. labor. b. capital. c. property and machinery. d. land and natural resources.
Economics
In the twentieth century, fluctuations in real GDP were
a. less severe during the last 50 years than was true during the first half of the century. b. virtually eliminated as the result of the countercyclical application of fiscal policy. c. more severe during the last 50 years than was true during the first half of the century. d. primarily the result of a fiscal policy that has persistently balanced the federal budget.
Economics