A street light is
a. rival and exclusive, and therefore is a public good
b. nonrival, but since it is exclusive, it is a private good
c. exclusive, but since it is nonrival, it is a public good
d. nonrival and nonexclusive, and therefore is a public good
e. nonrival and nonexclusive, and therefore is a private good
D
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How do defined-contribution plans differ from defined-benefit plans?
What will be an ideal response?
It can be difficult to define and enforce property rights against damaging pollutants when
a. many polluters are harming one person. b. many polluters harm the same large group of people with the same pollutant. c. the harms are difficult to quantify. d. All of the above are true.
If prices in the U.S. rise faster than prices in the United Kingdom, then according to the doctrine of purchasing-power parity the U.S. nominal exchange rate should rise
a. True b. False Indicate whether the statement is true or false
The opportunity cost of moving from point T to point Q would be
A. giving up trips around the world.
B. giving up heart transplants.
C. gaining trips around the world.
D. gaining heart transplants.