A good is considered nonexcludable if
a. many individuals can share in the consumption of the same unit of the good.
b. the consumption of the good by one individual lowers the amount available for others.
c. it is impossible or very costly to exclude nonpaying customers from receiving the good.
d. its production is financed through tax revenue rather than market prices.
C
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The idea that business fluctuations are primarily caused by factors affecting aggregate supply rather than aggregate demand is a central tenet of
A. efficiency wage theory. B. mainstream economics. C. real business cycle theory. D. monetarism.
Which statement is true?
A. Subsidy payments to farmers were almost completely phased out in 2007. B. The so-called new economy of the 1990s was neither new, nor very different from the economy of the previous 25 years. C. Until the time of the Great Depression, the United States was primarily an agricultural nation. D. There were no recessions during the presidency of Bill Clinton (January 1993-January 2000).
Why does scarcity lead to the "what," "how," and "for whom" questions?
What will be an ideal response?
________ in the domestic interest rate causes the demand for domestic assets to shift to the left and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate