True or False.  Government spending on research and development is strictly for scientific reasons.

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.  When people barter double coincidence of wants must exist.

Suppose the following data describe output in two different years: Item Year 1 Year 2 Apples 20,000 @ 25¢ each 30,000 @ 30¢ each Bicycles 700 @ $800 each 650 @ $900 each Movie Rentals 10,000 @ $1.00 each 12,000 @ $1.50 each Compute nominal GDP in year 1 (Enter as a numeric value e.g. 100000)

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.

Which of the following is true concerning a monopoly?

Checkable deposits are included in

When producing jeans, which of the following are not a variable cost in the short run?

Which of the following is true about the chairman of the Federal Reserve Board of Governors?

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