Which of these are best categorized as public goods and services?
A. pharmacy and doctor's office
B. amusement park and skating rink
C. grocery store and hospital
D. playground and neighborhood park
C. grocery store and hospital
wrong sorry
I apologize for the incorrect response.
Based on the traditional definition of public goods, items that are non-excludable and non-rivalrous, the correct answer would be:
D. playground and neighborhood park
Playgrounds and neighborhood parks are typically open to the public without requiring payment or exclusion. These spaces offer recreational opportunities that can be enjoyed by multiple individuals simultaneously without diminishing the enjoyment for others.
The other options (A, B, and C) can be considered private goods/services as they are excludable and rivalrous.
What is the best description of GDP per capita?
A. an economy's total output divided by its total population
B. an economy’s circular flow described in terms of input
C. an economy’s gross national product divided by its total output
D. an economy’s total population divided by its consumption
The correct answer is A. an economy's total output divided by its total population.
GDP per capita is a measure of economic well-being and is calculated by dividing a country's Gross Domestic Product (GDP), which represents the total value of goods and services produced within the country's borders, by its population. It provides a per-person measure of economic output and is often used to compare the standard of living between different countries or regions.
During a recession, a printing company lays off five workers. Which type of unemployment is this?
A. frictional
B. structural
C. casual
D. cyclical
The correct answer is D. cyclical unemployment.
Cyclical unemployment occurs during economic downturns, such as recessions, when there is a decrease in overall economic activity. It is a result of the overall decline in demand for goods and services, leading to a decrease in production and layoffs. In this case, the printing company's decision to lay off five workers is a direct result of the recession and the reduced demand for printing services.
Which are examples of ownership investments? Select the two correct answers.
A. stocks
B. bonds
C. savings account
D. fine art collection
The correct answers are A. stocks and D. fine art collection.
Ownership investments refer to assets that represent ownership or partial ownership in a company or physical asset. Stocks represent ownership in a company, while a fine art collection represents ownership of valuable artwork. Bonds are considered debt investments rather than ownership investments because they represent a loan to a borrower rather than ownership in an asset. Similarly, a savings account is a deposit account, and while it may earn interest, it does not represent ownership in any particular asset.
Fiona wants to buy a home in the next five years. She decides to apply for a credit card now because she knows the mortgage company will want to evaluate her spending habits to determine the risk level of giving her a loan.
Use the passage to answer the question.
Which advantage of credit is Fiona using?
A. emergencies
B. building a credit line
C. protection of purchases
D. purchase power