When the consumption of one good does not preclude another person from consuming the same good, then there is __________ in the consumption of the good
a. nonrivalry
b. rivalry
c. exclusivity
d. nonexclusivity
e. merit
A
You might also like to view...
Each of the 12 regional reserve banks ________.
A. are only responsible for carrying out Treasury policy in their district B. own the member banks in their district C. are owned by the member banks in their district D. are owned by the Board of Governors
Which trade strategy have developing countries used to restrict imports of manufactured goods so that the domestic market is preserved for home producers?
A) international commodity agreement B) export promotion C) multilateral contract D) import substitution E) export subsidies
Look at the following data: The frictional unemployment rate is 2 percent, the structural unemployment rate is 3.5 percent, and the actual unemployment rate is 9.5 percent. The natural unemployment rate is ____________ percent and the cyclical unemployment rate is __________ percent
A) 1.5; 4 B) 5.5; 4 C) 1.5; 6 D) 6; 15
Which of the following statements is correct about the U.S. balance of payments in 2017?
a. Transfer payments from the United States were greater than transfer payments into the United States.
b. A smaller value of goods were imported into the United States than were exported from the United States.
c. The current account balance was greater than the financial account balance.
d. The balance on goods and services was greater than the net balance.