A(n) ______ is someone who gets direct benefits from another person’s purchase of a public good.  

Building a new road creates a ____________ externality due to the loss of a beautiful landscape which people can no longer enjoy.

Mark all that apply.  When speaking about property rights and protection of endangered species, property right should:

Banks can protect themselves from going bankrupt through which of the following?

The following table shows costs and prices faced by an automobile manufacturer.  Profit maximization is achieved at a production rate of ____ autos per month  (Enter your answer as a numeric value). Output (cars per month) 0 1 2 3 4 Price (millions per car) 0 $9 $8 $7 $6 Total cost (millions per month) $1 $4 $6 $12 $16 Total revenue (millions per month)           Total Profit (millions per month)            

True or False.  The long-term budget forecast is for a budget surplus due to the baby boomer generation retiring.

Cautions about the money multiplier

The law of ____________________________ explains why people and societies rarely make all-or-nothing choices.

If we describe the business cycle starting from the top, descending, hitting the bottom and ascending this pattern illustrates what order in the business cycle?

Marginal cost is: