Knowledge capital is
A) rival. B) nonrival. C) nonexcludable. D) both B and C
D
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In the classical model, fiscal policy is both ineffective and unnecessary
a. True b. False
The transmission mechanism in monetary policy is the
A. manner in which a buying or selling of bonds ultimately impacts important macroeconomic variables such as real GDP. B. decision making process. C. name given to describe the tightening of monetary policy. D. name given to describe the easing of monetary policy.
Tariffs lead to
A. the contraction of relatively efficient industries. B. an over allocation of resources to relatively efficient industries. C. an increase in the foreign demand for domestically produced goods. D. an under allocation of resources to relatively inefficient industries.
A regulation that sets the highest price at which it is legal to trade a good is a
A) production quota. B) price floor. C) price support. D) price ceiling. E) subsidy.