A good is nonrival if:
A. there is no way to prevent a person from consuming or using it.
B. more than one person can consume it at the same time without affecting its value to others.
C. consumption of it involves perfect rivalry.
D. consumption is completely excludable.
B. more than one person can consume it at the same time without affecting its value to others.
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New classical economists believe that the classical model
a. with the rational expectations assumption added provides a role for activist stabilization policies. b. is a poor starting point to construct new macroeconomic models. c. with the rational expectations assumption substituted for the perfect information assumption provides a starting point for constructing useful macroeconomic models. d. is equivalent to the monetarist model. e. both c and d.
If those who consumed common resources were subject to a tax that was equal to the external costs that they imposed due to the negative externality created, their demand curve would shift:
A. up and they would consume more. B. down and they would consume less. C. down and they would consume more. D. up and they would consume less.
Which of the following provides medical insurance for individuals who fall below the poverty line?
a. Medicaid b. Medicare c. Affordable Care Act d. Temporary Assistance for Needy Families
The Bureau of Labor Statistics' U-2 measure of joblessness includes job losers and job leavers
a. True b. False Indicate whether the statement is true or false