An Example of a Public Good Is

question 298

Multiple Choice

An example of a public good is

• A) national defense.
• B) a hamburger.
• C) a laundromat.
• D) a personal computer.

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Definitions:

Flexible Wages and Prices

An economic condition where salaries and costs can easily adjust in response to supply and demand.

Unemployment

The situation when individuals who are able and willing to work are unable to find employment.

Aggregate Demand Curve

A graphical representation of the total demand for goods and services in an economy at different price levels.

Price Level

Refers to the average of all current prices for goods and services in an economy.