Which of the following goods is nonrival in consumption and excludable?
a. Grand Canyon National Park on a rainy, cool day
b. Disney World on a rainy, cool day
c. a crowded public beach on a sunny, warm day
d. White Mountain ski resort on a sunny, mild day
b
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Explain how a government budget deficit might crowd out private investment
What will be an ideal response?
Which term refers to members of Congress bundling unrelated laws together to benefit projects in their own districts?
a. Budget trading b. Vote cycling c. Logrolling d. Pork-barrel spending
Recall the Application about Bitcoin and other cryptocurrencies to answer the following question(s). According to the Application, Bitcoin is a currency:
A. that is not backed by any government. B. that can be used anonymously. C. that can be used to transfer money without the use of traditional banks. D. All of these are correct.
Which one of the following statements about GDP is TRUE?
A. GDP can be calculated using the expenditures approach. B. GDP can be calculated using the income approach. C. The value of household production is excluded from GDP. D. all of these.