What are the two characteristics that differentiate private goods from public goods?
A. marginal cost and marginal benefit
B. negative externality and positive externality
C. ownership and usage
D. rivalry and excludability
Answer: D
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Marginal factor cost is
A) the change in the value of output from using an additional unit of the factor. B) the cost of an additional unit of output. C) the total value of factor cost divided by the one cost that is being held constant. D) the cost of using an additional unit of an input.
Equilibrium GDP and the interest rate are interdependent
a. True b. False
A person experiences a capital gain if she
A) sells an asset for more than what she paid for it. B) settles a debt. C) invests in a physical capital project. D) contributes to a country's production of capital goods.
The purpose of the government's safety net for banks is to do each of the following, except:
A. eliminate all risk that investors face. B. stop bank panics. C. improve the efficiency of the economy. D. protect the integrity of the financial system.