Food is an example of a ________ good
A) nonrival and nonexcludable
B) rival and excludable
C) nonrival and excludable
D) rival and nonexcludable
B
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Providing basic health care and education for poor countries is cost-prohibitive.
Answer the following statement true (T) or false (F)
Modern economists are increasingly using microeconomic analysis in macroeconomics because
A) microeconomic theory is more scientific. B) aggregate outcomes stem from decisions made by individuals, business firms and government. C) macroeconomic subjects such as inflation affect all individuals. D) macroeconomics is older and more outdated.
When a good is illegal, the demand curve is likely to be inelastic because
A. the difficulty the buyer faces in getting their dealer to sell them more. B. the fact that when a good is illegal, addicts make up a greater percentage of users. C. price dramatically impacts usage. D. extra costs associated with avoiding capture.
From 1995 to 2013, the share of revenue to public institutions of higher education attributable to appropriations
A. remained constant. B. increased to 44% from 26%. C. decreased to 44% from 57%. D. increased to 57% from 44%.