A concert in a crowded auditorium is ________ in consumption
A) non-excludable and non-rival
B) excludable but non-rival
C) excludable and rival
D) non-excludable but rival
C
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Monetary policy affects the economy ________.
A. indirectly through changes in taxes B. directly through changes in government spending C. directly through changes in the aggregate supply D. indirectly through changes in the interest rate.
The problem of bringing economic agents together to trade is referred to as the:
A) incentive problem. B) coordination problem. C) correspondence problem. D) scarcity problem.
Where a free-rider problem exists, goods tend to be: a. underproduced
b. overproduced. c. high-priced and available only to the rich. d. low priced and available only to the poor.
When firms focus on profit maximization, which form of wage discrimination is least likely to occur?
a. discrimination based on race b. discrimination in sports c. consumer discrimination d. discrimination based on educational attainment