Alice and Alan live in apartments in the same building. When Alan’s apartment catches on fire, the fire department responds, saving his apartment and Alice’s, too, by preventing the fire from spreading. This is an example of how a public good is:
a. nonrivalrous.
b. noncooperative.
c. nonexcludable.
d. nonpartisan.
a. nonrivalrous.
A characteristic of a public good is that it is nonrivalrous, meaning that when one person uses the public good, another can also use it. In the case of the fire department, saving one apartment saved the others, too.
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A. 5 B. 3 C. 2 D. 1
If you hold a bond at a time when market interest rates are increasing, you will find that the bond's value has
a. remained the same since the interest payment remains constant b. increased c. increased only if the market interest rate exceeds the interest rate payable on the bond d. declined because you will receive a lower price when you sell the bond e. increased only if the interest payable on the bond exceeds the market interest rate
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