All of the following are characteristics of public goods EXCEPT
A) public goods can be used by more people at no additional cost.
B) the good can be consumed by everyone at the same time without reducing what is available for anyone else.
C) the exclusion principle.
D) the goods are perfectly divisible.
Answer: D
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The data presented in the text shows that in the period from 1947-2013, real GDP in the United States has
A) decreased in every year since 1947. B) generally remained the same. C) decreased only in recent years. D) increased substantially.
Most less-developed countries have a very low percentage of population under the age of 15
Indicate whether the statement is true or false
The consumption function will shift when
A. Investment changes. B. Induced consumption changes. C. Autonomous or induced consumption changes. D. Autonomous consumption changes.
High inflation in Zimbabwe in 2009 was a result of the Zimbabwean government's printing too much money.
a. true b. false