A pizza is
a. excludable and rival in consumption.
b. excludable and nonrival in consumption.
c. nonexcludable and rival in consumption.
d. nonexcludable and nonrival in consumption.
a
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If a country can produce rice with a lower opportunity cost than its trading partners, then it must have:
A. An absolute advantage in the production of all other goods except rice. B. A comparative advantage in the production of all other goods except rice. C. An absolute advantage in the production of rice. D. A comparative advantage in the production of rice
Opportunity cost is the expected value of the alternative not chosen.
a. true b. false
What is asymmetric information?
What will be an ideal response?
Benefit levels for the Temporary Assistance to Needy Families (TANF) are set by ________ governments.
A. municipal B. state C. federal D. local