A good that is rival and excludable is a ________
Fill in the blank(s) with correct word
pure private good
You might also like to view...
The creation of new property forms (such as privatizing a public beach) is one answer to __________ because it would reduce _________
a. government failure; market failure b. market failure; government failure c. the creation of third parties; public choice d. dealing with externalities; the number of third parties e. the inefficiencies of the market; special interests
Which of the following measures includes the effects of taxes? a. Net national product
b. Gross national product. c. National income. d. Personal income.
Josh is going to spend all of his income. For the last unit of Good X consumed Josh gets 20 utils and for the last unit of Good Y consumed he gets 10 utils. The price of Good X is $4. The price of Good Y is $1. If Josh wants to maximize his utility he should
A. continue to purchase the same amount of Good X and Good Y. B. increase the consumption of Good X and decrease the consumption of Good Y. C. decrease the consumption of Good X and increase the consumption of Good Y. D. decrease the consumption of Good X and decrease the consumption of Good Y.
The main point of the Consider This box about hypothetical countries Slogo, Sumgo, and Speedo is that over several decades differing:
A. inflation rates create large differences in real GDP per capita. B. economic growth rates create large differences in real GDP per capita. C. ratios of defense spending to GDP create large differences in real GDP per capita. D. unemployment rates create large differences in real GDP per capita.