It would always be a mistake to view
a. a streetlight as a common resource.
b. a nontoll road as a public good.
c. the environment as a common resource.
d. a lighthouse as a public good.
a
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Refer to Figure 27-2. In the graph above, if the economy is at point A, an appropriate fiscal policy by Congress and the president would be to
A) execute an open market sale of government securities. B) increase marginal income tax rates. C) lower the discount rate of interest. D) increase government transfer payments.
If workers become less productive, which of the following would happen in the labor market?
a. Labor supply would decrease. b. Labor supply would increase. c. Labor demand would decrease and labor supply would increase. d. Labor demand would increase and so would labor supply. e. Labor demand would decrease.