If the consumption of Good A by one person does not decrease the quantity of Good A available for another person's consumption, then the good is said to be
A) nonrival.
B) rival.
C) nonexcludable.
D) excludable.
A
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Direct finance refers to the flow of funds from savers to borrowers through financial markets
Indicate whether the statement is true or false
In the early 1900s, Henry Ford introduced a
a. high-wage policy, and this policy produced many of the effects predicted by efficiency-wage theory. b. high-wage policy, and this policy produced none of the effects predicted by efficiency-wage theory. c. low-wage policy, and this policy produced many of the effects predicted by efficiency-wage theory. d. low-wage policy, and this policy produced none of the effects predicted by efficiency-wage theory.
President Kennedy's team of economic advisers included such prominent economists as a. James Tobin and Robert Solow
b. N. Gregory Mankiw and Paul Krugman. c. John Maynard Keynes and Friedrich Hayek. d. Austan Goolsbee and Justin Wolfers.