Public goods are nonrival in ________ and their ________ are nonexcludable.
A. consumption; benefits
B. production; benefits
C. consumption; costs
D. production; costs
Answer: A
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If a bank's ratio of assets to capital is 25 and it's return on assets is -5%, what is its return on equity?
A) -0.2% B) -5% C) -30% D) -125%
Assume x and y are the only two goods a person consumes. If after a rise in pX the quantity demanded of y increases, one could say:
a. the income effect dominates the substitution effect. b. the substitution effect dominates the income effect. c. it is still impossible to determine whether the substitution or income effect dominates. d. none of the answers is correct.
Canada is a major world producer and exporter of wheat and a great percent of its GDP is derived from this one good. That's both good news and bad news for Canada. The good news is
a. that other countries have less of a target to retaliate on but the bad news is that they are most likely to retaliate b. that Canada can concentrate on principally one good but the bad news is that its comparative advantage changes when its absolute advantage changes c. that Canada can concentrate on principally one good but the bad news is that its absolute advantage changes when its comparative advantage changes d. that Canada gets substantial gains from trade but the bad news is that other countries may retaliate against all Canadian exports e. that Canada gets substantial gains from trade but the bad news is that price changes in wheat can erode much of the gains
The term “fiscal federalism” refers to
A. deficit financing of government programs. B. the power of Congress to tax and to determine how tax revenues are spent. C. transferring money between levels of government (for example, from a state government to a local government). D. the system under which governments ask citizens to vote on major revenue-raising measures (for example, on issues of municipal bonds).