Looking at the table of the four types of goods, goods that are rival in consumption consist of ______ goods.
a. private and public
b. private and common
c. public and common
d. public and club
b. private and common
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A _________ is an agreement under which stockholders of several formerly-competing companies turn over their shares to a group that exercises voting control over the companies
a. trust b. gentleman's agreement c. holding company d. pooling arrangement
We would expect the cross elasticity between tennis racquets and tennis balls to be:
a. negative. b. positive. c. zero. d. one. e. infinite.
Net total benefits of an activity are maximized when marginal benefits and marginal costs are equal
Indicate whether the statement is true or false
If unemployment is the most significant problem in the economy, which of the following actions would be an appropriate fiscal policy response?
a. decrease taxes b. decrease government purchases c. decrease the federal deficit d. all of the above