Alex, Kara, and Susie are the only three people in a community and Alex is willing to pay $20 for the fifth unit of a public good; Kara, $15; and Susie, $25. Government should produce the fifth unit of the public good if the marginal cost is less than or

Tennis rackets and ballpoint pens are:

A. substitute goods. B. complementary goods. C. inferior goods. D. independent goods.

Under a floating exchange-rate system, an increase in the international demand for electronic appliances manufactured in Japan will result in

A. a reduction of international reserves held by the central bank of Japan. B. an appreciation of the yen vis-à-vis other currencies. C. deflation in the Japanese economy. D. an increase in Japan's trade deficit with other countries.