Which of the following goods is the best example of a public good?
a. garbage-collection services that are provided by a municipal government
b. music that is broadcast over the airwaves by a privately-owned FM radio station
c. electricity that is provided to farmhouses by a rural electric cooperative
d. cable TV services that are provided by a privately-owned firm that is regulated by the government of the city in which it operates
b
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An ATS account
A) converts a corporation's checking account balance at the end of the day into an overnight repurchase agreement. B) is the name given to NOW accounts outside of New England. C) are negotiable certificates of deposit of less than $100,000. D) were used during the Great Depression by depositors who had lost faith in conventional checking accounts.
The substitution effect of a decrease in the wage will
A) decrease leisure, regardless of whether leisure is a normal or inferior good. B) increase leisure, regardless of whether leisure is a normal or inferior good. C) increase leisure only if leisure is a normal good. D) decrease leisure only if leisure is a normal good.