True or False.  Banks play no role in the creation of money.

A private gardener who lives in a housing community plants an assortment of beautiful plants in her front garden is a ___________ externality. Fill in the blank write your answer all in lower case.

The market will:

The demand curve for an individual monopolist:

True or False.  Private goods are produced through the market because they have rivalry (one’s use of a good makes it unavailable for others).

True or False.  Banks play no role in the creation of money.

Real GDP is a more accurate measure of economic growth than nominal GDP because:

External costs arise when:

In economics, the demand for a good refers to the amount of the good that people:

Suppose the following data describe output in two different years: Item Year 1 Quantity Year 1 Price Year 2 Quantity Year 2 Price Oranges 15,000  $     0.20 20,000  $       0.25 Computers 600  $750.00 700  $  840.00 Video Games 8,000  $     0.75 10,000  $       1.00 Compute nominal GDP in year 2 (Enter as a numeric value e.g. 100000)