10. As it relates to public goods, nonexcludability means that nonpayers cannot be barred from obtaining the benefits.
A) True
B) False
11. An example of a public good is cable television.
A) True
B) False
12. Assume the natural rate of unemployment in the U.S. economy is 5 percent and the actual rate of unemployment is 9 percent. According to Okun's law, the negative GDP gap as a percent of potential GDP is:
A) 4 percent.
B) 8 percent.
C) 10 percent.
D) 2 percent.
13. The business cycle is so named because upswings and downswings in business activity are equal in terms of duration and intensity.
A) True
B) False
14. The marginal tax rate is the tax rate that applies to additional income.
A) True
B) False
15. Most output in the United States is produced by:
A) cooperatives.
B) partnerships.
C) sole proprietorships.
D) corporations.
2007-06-28
04:37:02
·
1 answers
·
asked by
icycrissy27blue
5
in
Social Science
➔ Economics