A good is non-rival in consumption if ________
A) one person's use of the good does not preclude consumption by others
B) the government can regulate its production
C) people cannot be prevented from using it
D) the demand for the good increases with an increase in the consumer's income
A
You might also like to view...
Drawbacks to using the establishment survey to calculate unemployment include all of the following except
A) the survey does not include information on self-employed persons. B) the survey may not include employment data at newly-opened firms. C) the survey provides no information on unemployment. D) the survey only includes data on full-time employees.
Refer to Figure 12.6. Under a fixed exchange rate system, if the central bank can increase the output gap with expansionary policy and still maintain the fixed exchange rate, this would best be represented by a movement from ________ in Panel (a) and
a movement from ________ in Panel (b). A) point A to point B; point X to point Y B) point C to point A; point X to point Y C) point D to point C; point Y to point X D) point B to point D; point Y to point X
Which of the following models view changes in real supply-side factors as determinants of short-run fluctuations in output and employment?
a. New classical models b. Political business cycle models c. Keynesian models d. Real business cycle models e. none of the above
If the marginal propensity to save of an economy is 0.4, then the simple spending multiplier is: a. 2.5
b. 0.6. c. 1.67. d. 1.