An example of a good that is nonrival in consumption is:
A. a music CD.
B. a radio broadcast of a song.
C. a ticket to a concert.
D. a guitar.
Answer: B
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If a cartel firm is producing a quantity at which the marginal revenue is equal to the marginal cost, the firm ________.
A) is producing less than the agreed upon quantity B) is not producing the agreed upon quantity C) has not acted in self-interest D) has erected a barrier to entry
If a government using fixed exchange rates chooses to increase the rate, the currency:
A. is revalued. B. is devalued. C. is depreciated. D. appreciates.
Unlike firms in a perfectly competitive market, each firm in a monopolistically competitive market produces a quantity where price is: a. equal to its marginal cost of production. b. less than its marginal revenue
c. more than its marginal cost of production. d. more than its average revenue.
Which of the following is not included in Nation A's financial account?
a. Nation A's interest earnings from foreign operations. b. Greenfield investments made by foreigners in Nation A. c. Foreign purchases of Nation A's Treasury bills. d. All the above are included.