The determination of which goods are public goods depends on:
a. public laws
b. normative considerations.
c. whether it is produced directly by the government or produced by a private sector firm.
d. whether it is possible to exclude additional users from consuming the good if they do not pay for it.
d
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? Scalpers (people selling tickets at a price above the stated price, P*) were spotted at this year’s Super Bowl game. This suggest that
A. P* is less than the equilibrium price. B. P* is greater than the equilibrium price. C. P* is the equilibrium price. D. it’s not possible to determine anything about the equilibrium price with this information.
In 2001, the FOMC lowered the target federal funds rate eleven times, cutting the rate from 6-1/2 percent to 1-3/4 percent. Why didn't the Fed just cut the rate by larger amounts early on?
What will be an ideal response?