________ are non-excludable in consumption
A) Public goods and private goods
B) Public goods and common pool resources
C) Private goods and club goods
D) Club goods and common pool resources
B
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Nominal GDP in 1970 was $1035.6 billion, and in 1980 it was $2784.2 billion. The GDP price index was 30.6 for 1970 and 60.4 for 1980, where 1992 was the base year. Calculate the percent change in real GDP in the decade from 1970 to 1980
Round off to the nearest percentage point. A) 36% B) 97% C) 136% D) 169%
Corporations account for a ____ proportion of the total number U.S. firms but a ____ proportion of sales by U.S. firms.
A. small; small B. small; large C. large; small D. large; large
If the law requires apartment building owners to lower rent, the law of supply predicts that, other things constant, the:
A. quantity of apartment units supplied will fall. B. supply of apartment units will shift leftward. C. quantity of apartment units supplied will rise. D. supply of apartment units will shift rightward.
If M were 10,000, P were 10, and Q were 5,000, how much would V be?
What will be an ideal response?