Inoculation programs against certain diseases such as small pox, polio, and whooping cough create:
a. nonrival goods.
b. external costs to society equal to the costs of the program.
c. nonexcludable goods.
d. public goods.
e. positive externalities in consumption
e. positive externalities in consumption
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If Melissa owns a software company that incurs no fixed costs, then
A) her total cost equals her total variable cost. B) she will earn an economic profit. C) her total variable cost is less than her total cost. D) her total cost equals zero. E) her marginal cost must equal zero.
A decrease in aggregate demand will cause
A) prices to fall according to classical economists, and unemployment to increase according to Keynes. B) prices to fall and unemployment to increase according to both classical economists and Keynes. C) aggregate supply to fall according to classical economists, and prices to fall according to Keynes. D) aggregate supply to fall according to Keynes, and unemployment to increase according to classical economists.