At the local park there is a playground for children to use. While anyone is allowed to use the playground, it is often very busy, reducing the enjoyment of many of the children who use it. The playground is a
a. private good.
b. club good.
c. common resource.
d. public good.
c
You might also like to view...
Refer to Figure 10-6. A change in income is shown in
A) Panel A. B) Panel B. C) Panel C. D) none of the above panels.
The New Deal policies both relieved distress and reformed the system to prevent future depressions. An example of the former is the ___ while the ___ is an example of the latter
a. Civilian Conservation Corps; Works Projects Administration. b. Works Projects Administration; Industrial Organization Review Board. c. Civilian Conservation Corps; Securities and Exchange Commission. d. Federal Deposit Insurance Corporation; Industrial Organization Review Board.
The slope of a steep upward-sloping line will be a
a. small positive number. b. large positive number. c. small negative number. d. large negative number.
Indy has a price elasticity of demand for beer of 1.00. Suppose the price of each beer is increased by 10 percent. What will happen to the total amount Indy spends on beer?
A. It will decrease 10 percent. B. It will not change. C. It will increase 10 percent. D. It is impossible to tell.