A private good is a good that:
A.) Is financed by private dollars instead of taxes.
B.) Can be jointly consumed.
C.) Can be denied to those who do not pay for it.
D.) Consumers use privately in their homes.
D.) Consumers use privately in their homes.
You might also like to view...
The time it takes to identify and examine the nature and seriousness of an economic problem is the _____
a. activity lag b. decision-making lag c. effectiveness lag d. implementation lag e. recognition lag
Which of the following is a limitation of GDP?
(a) It doesn't include a measure of the black economy. (b) It doesn't include a value for externalities. (c) It doesn't include a value for voluntary work. (d) All of the above are limitations of GDP.
The effects of a per-unit tax imposed on sales of an industry's product would likely include
A. a leftward movement along the market supply curve for the product. B. a lower product price at any amount of the product supplied. C. a leftward shift of the market supply curve for the product. D. none of these.
Refer to the above table. When output rises from 2 units to 3 units, marginal costs are
A. $41. B. $10. C. $22. D. $7.