If no one can be prevented from using good x, then good x is one of two types of goods. What are those two types?
As described, good x is not excludable, so it must be either a common resource or a public good.
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The unemployment rate is computed by the _____. This agency conducts a survey of _____.
Fill in the blank(s) with the appropriate word(s).
Assume an economy experiences, for a given period, a 4% increase in output and a 2% increase in productivity. Given this information, we know that which of the following occurred for this economy during this period?
A) The unemployment rate increased during this period. B) The unemployment rate decreased during this period. C) The unemployment rate did not change during this period. D) The effects on the unemployment rate are ambiguous. E) none of the above
Someone who has decided that her time is more valuable in nonmarket activities than it is when spent working is considered unemployed.
Answer the following statement true (T) or false (F)
What does it mean to internalize an externality?
What will be an ideal response?