If you can consume a good at the same time that others consume the same good, the good is nonrival in consumption.
Answer the following statement true (T) or false (F)
True
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An administered price is a price
a. set by overall demand and supply. b. established by a seller. c. set by the government. d. determined through collective bargaining.
Explain how the following will affect the relative values of the dollar and the English pound
a. Income growth is higher in the United States than in England. b. Inflation is higher in England than in the United States. c. Real interest rates are higher in the United States than in England.
The sum of internal and external costs is
A) externalities. B) social costs. C) internalities. D) private costs.
An advantage of the household survey over the establishment survey of the labor market is that the household survey
A) is based on actual payrolls, rather than on unverified answers. B) includes the number of self-employed persons. C) includes the number of discouraged workers. D) omits persons employed at newly opened firms.