A good that is rival but nonexclusive is called a(n) ?
a. private good
b. public good
c. quasi-private good
d. external good
e. open access good
Answer: e. open-access good
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Why might spending on basic literacy for girls have a social return that exceeds the private return?
What will be an ideal response?
The figure above represents the demand and cost functions facing a Brazilian Steel producing monopolist. If it were unable to export, and was constrained by its domestic market, what quantity would it sell at what price?
What will be an ideal response?
Either a dual or hierarchial mandate is acceptable as long as ________ is the primary goal in the ________
A) price stability; short run B) price stability; long run C) reducing business-cycle fluctuations; short run D) reducing business-cycle fluctuations; long run
Proponents of fixed exchange rates argue that the predictability of the fixed exchange rate:
A. decreases trade and economic integration. B. prevents exchange rate overvaluation. C. increases trade and economic integration. D. allows monetary policy to be used to stabilize the domestic economy.