What are the two defining features of a public good?
a. excludability and rivalrous consumption
b. common pool consumption and positive externalities Incorrect. Please review Top Ten Concept # 9.
c. negative externalities and excludability
d. rivalrous consumption and common pool consumption
e. non-excludability and non-rivalrous consumption
e. non-excludability and non-rivalrous consumption
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Refer to Edgeworth Box Economy. Based on the situation shown in the diagram, we can conclude that
The accompanying diagram shows an Edgeworth box economy. The initial endowment is point O. At current relative prices, Augie chooses point X and Bev chooses point Y.
a. Augie and Bev have reached a competitive equilibrium.
b. the relative price of food must rise to clear the market.
c. both point X and point Y must lie on the contract curve.
d. there is a shortage of clothing and a surplus of food.
Under the current managed float exchange rate regime, countries with balance of payments ________ frequently do not want to see their currencies ________ because it makes foreign goods more expensive for domestic consumers and can stimulate inflation
. A) surpluses; depreciate B) deficits; depreciate C) surpluses; appreciate D) deficits; appreciate
According to the simple quantity theory of money, which of the following variables are considered either constant or relatively stable?
A) V and Y B) Y and Ms C) P and Ms D) P and Y
What separates a sterilized foreign exchange market intervention from an unsterilized intervention?
What will be an ideal response?