Public goods are goods that we all agree are useful and therefore are all willing to pay for. This implies that there is no efficiency problem in the production of public goods.
Answer the following statement true (T) or false (F)
False
Economics
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One should be especially wary of the national-security argument for restricting trade when that argument is made by
a. representatives of industry. b. representatives of the defense establishment. c. members of households. d. foreign government officials.
Economics
The time it takes for a particular monetary policy to change income is called the _____
a. recognition lag b. data lag c. reaction lag d. effect lag e. action lag
Economics
Annual inflation equal to 1,000% means that prices are rising by
A. 100 times in a year. B. 500 times in a year. C. 1,000 times in a year. D. 10 times in a year.
Economics
Figure 6.1In Figure 6.1, the total consumer expenditures equal:
A. 200 B. 250 C. 50 D. 30
Economics