Capital goods are
A. produced in one year, whereas final goods are produced over a period of more than one year.
B. final goods, because they are not used up during a given year.
C. produced in the same year as the related final good, whereas intermediate goods are produced in different years.
D. a type of intermediate good.
Answer: B
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In the checkerboard model, the board eventually returned to equilibrium, but the equilibrium result was extreme segregation. This extreme segregation resulted from
A) an outright hatred of neighbors. B) an extreme dislike of neighbors. C) a mild preference of neighbors not to be outnumbered. D) government affirmative action policies.
A decrease in the price of pork will result in
A) a smaller quantity of pork supplied. B) a decrease in the demand for pork. C) a larger quantity of pork supplied. D) an increase in the supply of pork.