If one person's use of good x diminishes other people's use of it, then good x is one of two types of goods. What are those two types?
As described, good x is rival in consumption, so it must be either a private good or a common resource.
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The utility a consumer derives from knowing that others receive benefit from an environmental good is called
a. stewardship value c. direct user value b. indirect user value d. vicarious consumption
A Monetarist-oriented econometric model is likely to emphasize that monetary policy affects economic activity
A) directly through changes in government spending. B) directly through changes in the money supply. C) indirectly through changes in velocity. D) indirectly through changes in money demand.
Elisa Kilhafer, a housewife in St. Louis, Missouri, who claims on a Bureau of Labor Statistics (BLS) survey that she is neither gainfully employed nor looking for work, is, according to the BLS,
a. considered retired b. counted as unemployed c. considered reemployable d. counted as a member of the labor force e. not counted as a member of the labor force
An increase in the budget deficit can be reflected in
A) an increase in private saving. B) a reduction in investment. C) a reduction in net exports. D) all of the above E) none of the above