A good is nonexcludable if no externalities, either negative or positive, are associated with its production or consumption.
Answer the following statement true (T) or false (F)
False
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At a price of $1 per table, the quantity supplied of tables is 100 units whereas the quantity demanded is 70 units. Given this information, which of the following statements is true?
A) $1 per table is the market clearing price. B) At $1 per table, there is a surplus in the market. C) At $1 per table, there is a shortage in the market. D) $1 per table is the equilibrium price.
The government of Techland experienced a current account surplus of $0.4 billion during a certain year. What should be the balance in the financial account of Techland? Explain your answer
What will be an ideal response?
Dictatorships, whether stable or unstable, always have longer time horizons than U.S. presidents
a. True b. False
Who does not gain when a tariff is imposed?
A. Domestic producers of the good. B. Domestic workers in the protected industry. C. Domestic consumers of the good. D. Domestic suppliers in the protected industry.