A characteristic of a public good is
A) rival consumption.
B) the exclusion principle.
C) the free-rider problem.
D) clear property rights.
C
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Which of the following is an entity of the Federal Reserve System?
A) the U.S. Treasury Secretary B) the FOMC C) the Comptroller of the Currency D) the FDIC
If the nominal GDP were to increase, but the real GDP were to increase by less from one year to the next, we could conclude:
A. prices went up, but output stayed the same. B. prices stayed the same, but output went up. C. both prices and output went up. D. both prices and output stayed the same.
Economics is the study of:
a. the allocation of scarce resources and the ways in which human decision makers utilize those resources. b. the methods that human decision makers use to transform a scarce good into a non-economic good. c. how to operate a business successfully. d. a utopian society. e. how to make money in the stock market.
Which of the following is a similarity between a bank loan and a bond? a. Only large business houses can raise funds from these two methods
b. Only small business houses can raise funds from these two methods. c. Funds raised from both methods have a fixed tenure for repayment. d. Interest is required to be paid on the funds raised from both bonds and bank loans.