Author Question: A waitress brings a free glass of wine when you sit down in a restaurant. This glass of wine is ... (Read 114 times)

craiczarry · **on:** Jun 29, 2018

A waitress brings a free glass of wine when you sit down in a restaurant. This glass of wine is

A) a service because the waitress carried it instead of making it.
B) a good, but not an economic good because there is no price charged for the wine.
C) a nongood because there is no price charged for the wine.
D) an economic good because wine is produced with scarce resources, even if it is free to you.

Question 2

Which of the following illustrates the law of demand?

A) More people watch college basketball in March than in November.
B) The number of long distance calls in the United States is greater on Christmas than on Valentine's Day.
C) College enrollment increases when federal tuition grants are readily available to students.
D) The prevailing wage rate in an industry determines how many people choose to work in the industry.