A public good is
A) a good that is rivalrous and nonexcludable. B) a good that is rivalrous and excludable.
C) a good that is nonrivalrous and excludable. D) a good that is nonrivalrous and nonexcludable.
D
You might also like to view...
In the short run, with predetermined prices, when output is greater than aggregate expenditure, firms will:
A. increase aggregate expenditure. B. increase production. C. reduce production. D. decrease aggregate expenditure.
If somebody posing as a vacationer were able to purchase large numbers of airline tickets from the airlines and later resell them to business travelers,
A) group price discrimination on the part of airlines would no longer be profitable. B) group price discrimination on the part of airlines would no longer be profit maximizing. C) the airlines would respond by raising further the price charged to business flyers. D) this person would not earn any economic profit.
In the vertical segment of the aggregate supply curve,
a. different levels of GDP correspond with high unemployment. b. competition among producers for already-employed resources can succeed only in lowering the economy's price level. c. full employment is achieved. d. producers are able to hire more workers at lower wages. e. increases in GDP are due solely to production gains.
If a good is _______, the income effect is negative for a price increase and positive for a price decrease.
A. inferior B. superior C. normal D. Giffen