Markets work well for allocating ____________ efficiently, but not always so well for allocating ______________________.
A. private goods; public goods
B. public goods; private goods
C. common resources; public goods
D. public goods; common resources
A. private goods; public goods
You might also like to view...
If real GDP is less than potential GDP, then the economy is ________ equilibrium
A) at an above-full-employment B) not in short-run macroeconomic C) at a below-full-employment D) in long-run macroeconomic
Refer to Table 2-20. Japan has a comparative advantage in the production of
A) rice. B) wristwatches. C) both products. D) neither product.
Ideally, insurance companies would like to charge
a. High premium to low risk clients b. Low premium to high risk clients c. The same premium to all clients d. High premium to high risk and low premium to low risk clients
A public good is a good or service for which consumption by one person makes consumption by others impossible.
Answer the following statement true (T) or false (F)