Because public goods are characterized by being collectively consumed,
A. they are illegal.
B. they are very expensive; thus the private sector cannot provide them.
C. the government cannot produce them.
D. the private sector may not provide them because they cannot exclude those who do not pay.
Answer: D
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In order for an economy to increase its production possibilities, the economy must
A) be very efficient. B) increase inputs. C) increase its wants. D) reduce output.
A multinational organization that aims to promote world economic growth through more financial stability is the
A. World Bank. B. International Monetary Fund. C. International World Fund. D. Federal Reserve System.
An increase in fixed costs will lower a firm's
a. total cost. b. output. c. prices. d. profit.
What is the "good news" and the "bad news" about a higher value of the U.S. dollar?
What will be an ideal response?