A public good is a good or service for which consumption by one person makes consumption by others impossible.
Answer the following statement true (T) or false (F)
False
A public good is a good or service whose consumption by one person does not exclude consumption by others.
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How can the Gordon Growth model help explain the major decline in stock indexes during 2007-2009?
A) There was an increase in the required return on equities and a decrease in the expected growth rate of dividends. B) There was a decrease in the required return on equities and an increase in the expected growth rate of dividends. C) There was an increase in the required return on equities and an increase in the expected growth rate of dividends. D) There was a decrease in the required return on equities and a decrease in the expected growth rate of dividends.
After eating six chocolate candy bars in ten minutes, Mia says, "You would have to pay me to eat another chocolate candy bar!" This statement best illustrates
a. the law of demand. b. the substitutability among goods. c. the law of diminishing marginal utility. d. that chocolate candy bars are an inferior good.
A monopsonist must pay a higher net wage rate to hire additional workers because as a single
A. Seller, it does not have to compete with other firms for customers. B. Buyer in the market, it faces a flat supply curve for labor. C. Buyer in the market, it faces an upward-sloping supply curve for labor. D. Seller, it has market power.
Surveys of consumers regarding labor standards reveal that they:
a. treat potential losses and potential gains equally. b. weigh potential losses more than potential gains. c. weigh potential losses less than potential gains. d. do not experience losses in gains.