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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In a small country, using prices of 2012, GDP in 2012 was $100 and GDP in 2013 was $110. Using prices of 2013, GDP in 2012 was $200 and GDP in 2013 was $210
The country's BEA will calculate ________ percent as the growth in real GDP between those years. A) 7.5 B) 15 C) 10 D) 5 E) None of the above answers is correct.
Based on Scenario 6.1 above, if a tariff of 20 percent is placed on imports of dining room tables, the effective rate of protection is
A) 20 percent. B) 25 percent. C) 30 percent. D) 40 percent. E) There is not enough information to tell.
Describe how a firm that sells only one brand of bleach may be able to increase its profit if it re-labels some of its bleach
What will be an ideal response?
A soil bank program pays ___________ in order to _________
a. farmers' mortgages; eliminate bankruptcy b. farmers' mortgages; reduce the parity price ratio c. farmers to not grow; reduce excess demand d. farmers to grow; rejuvenate the land e. farmers to not grow; reduce supply