A government-inhibited good is a good which
A) is not subject to the principle of mutual exclusivity.
B) the political process has deemed socially undesirable.
C) can be consumed by one individual without affecting the consumption of another individual.
D) the political process has deemed socially desirable.
B
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What characteristic do human and physical capital share?
A) Both are controlled by the government. B) Current costs are incurred for future benefits. C) Their growth depends crucially on the growth of total factor productivity. D) The use of both exhibits rivalry.
An example of a public policy response to a monopoly is:
A. public admonishment. B. encouraging mergers. C. antitrust laws. D. All of these are examples.
Paper money has been in use since the
a. Roman Empire. b. eleventh century in China. c. Civil War in the United States. d. development of money-center banking in nineteenth-century London.
The financial system does NOT influence
a. long-run economic growth. b. saving and investment. c. the amount of capital in the economy. d. the amount of natural resources in the economy.