We ________ from consuming the benefits of a public good.
A. cannot exclude anyone
B. can exclude some people
C. can exclude everyone
D. can only exclude the private sector
Answer: A
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A positive externality is present whenever: a. the social marginal benefit of an activity exceeds the private marginal benefit. b. the private marginal benefit of an activity exceeds the private marginal cost. c. the social marginal cost of an activity exceeds the private marginal cost
d. none of the above.
When real output decreases, planned aggregate expenditures decrease because:
A. induced expenditures decrease. B. autonomous expenditures increase. C. induced expenditures increase. D. autonomous expenditures decrease.
Which of the following is not considered part of government spending?
A) a military jet purchased by the federal government B) a nature preserve purchased by a state government C) social security payments to retirees D) teachers' salaries paid by a local government
In a typical year, new small firms create ________ jobs
A) 250,000 B) 1.1 million C) 1.8 million D) 3.3 million