What does annual economic growth refer to?
A) annual increases in GDP
B) annual increases in consumption spending
C) annual increases in investment spending
D) annual increases in Real GDP
E) none of the above
D
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As a result of U.S. tariffs on fishnets produced in other nations, the quantity of fishnets purchased in the United States has
A) fallen to zero. B) not been affected. C) increased. D) decreased but not to zero. E) probably changed but whether it has increased or decreased is ambiguous.
Public goods
A) are overproduced by unrestrained markets. B) are simply private goods that the government provides. C) cannot be consumed by more than one person without the degradation of the value of the good. D) can be consumed by more than one person without degradation of the value of the good.