A good that is rival in consumption and nonexcludable is a ______.
a. private
b. public
c. common
d. club
c. common
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Based on the above table, what is the marginal product of the 6th worker hired at Jefferson's Cleaners?
A) 10 suits per day B) 11 suits per day C) 14 suits per day D) 84 suits per day
When asset prices increase above their fundamental values it is called an
A) asset-price bubble. B) irrational bubble. C) asset-price spike. D) irrational spike.
The emphasis on the greater incentives to produce, created by lower taxes, has come to be known as:
a. the trickle-down economics. b. the supply-side economics. c. the paradox of thrift. d. the permanent income hypothesis. e. monetarism.
If the measured unemployment rate is 6% and the natural unemployment rate is 4%, then
A. cyclical unemployment is 2%. B. frictional unemployment is -2%. C. structural unemployment is 10%. D. frictional unemployment is 2%.