If, at a low cost, you cannot prevent a person from benefiting from the consumption of a good you produced, the good is
A. nonexcludable.
B. nonrival in consumption.
C. excludable.
D. rival in consumption.
Answer: A
Economics
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Refer to Table 2-9. What is Japan's opportunity cost of producing one wristwatch?
A) 0.04 pounds of rice B) 4 pounds of rice C) 25 pounds of rice D) 40 pounds of rice
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Historically our rate of economic growth has been about _____% a year.
A. 9.5 B. 7.5 C. 5.5 D. 3.5
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If the price buyers pay rises by the full amount of the tax, the burden...
What will be an ideal response?
Economics
The union wage premium refers to the:
A. deduction for union insurance. B. dues one must pay in order to be in a union. C. amount by which union wages exceed nonunion wages. D. union wage rate minus union membership dues.
Economics