Nonrivalry, as it relates to public goods, means that:
A. government-producer rivalry does not exist in this market.
B. producer rivalry does not exist in this market.
C. consumer-producer rivalry does not exist in this market.
D. consumer rivalry does not exist in this market.
Answer: D
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For a profit-maximizing monopolistically competitive firm, for the last unit sold, the marginal cost of production is less than the marginal benefit received by a customer from the purchase of that unit
Indicate whether the statement is true or false
In the Keynesian framework, as long as output is ________ the equilibrium level, unplanned inventory investment will remain ________ and firms will continue to raise production
A) below; negative B) above; negative C) below; positive D) above; positive
Which U.S. President was in office for most of World War II?
a. Herbert Hoover b. Abraham Lincoln c. Franklin D. Roosevelt d. Lyndon Johnson e. Dwight Eisenhower
Why is it unlikely that expansions could be explained by a decrease in labor demand in the classical model?
a. It would be hard to say why productivity decreases. b. Productivity increases are too fast and variable to explain expansions. c. Productivity tends to improve at a constant and steady rate. d. Only unexplained spending changes can lead to changes in output and employment, not the other way around. e. Productivity improvements are rather slow.