The difference between public goods and private goods rests on technical considerations of exclusion of use and not political philosophy.
Answer the following statement true (T) or false (F)
True
The central question between public goods and private goods is whether we have the technical capability to exclude nonpayers.
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Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the
A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions. B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions. C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions. D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.
A bank is insolvent when
A) its liabilities exceed its assets. B) its assets exceed its liabilities. C) its capital exceeds its liabilities. D) its assets increase in value.
What occurs in the second stage of economic development?
A) Most of the labor force works in agriculture. B) The service sector comes to the forefront. C) The manufacturing sector declines in importance. D) Manufacturing gains in importance and employs a large portion of the labor force.
The increased participation of married women in the work force reflects the increasing opportunity cost of not working
Indicate whether the statement is true or false