Which of the following characteristics does a public good have?
a. Nonexcludable and rival
b. Excludable and rival
c. Non-excludable and nonrivalrous
d. Excludable and nonrivalrous
c. Non-excludable and nonrivalrous
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If average variable cost is decreasing as output increases, then marginal cost is definitely
A) decreasing as output increases. B) increasing as output increases. C) less than average variable cost. D) greater than average variable cost.
Explain why positive economies of scale in one (of two) sectors may establish a comparative advantage for the large (as compared to the small) country in the production of the commodity which exhibits positive scale economies
What will be an ideal response?
The practice of parents giving their children an amount of land similar to what they received from their parents is known as a
(a) targeted bequest. (b) strategic bequest. (c) life cycle bequest. (d) investment bequest.
Government agencies to which the national health care program assigns the task of assisting individuals, families, and small businesses in identifying health insurance policies to purchase are known as
A) health care exchanges. B) markets for health care. C) health insurance regulations. D) health insurance mandates.