Depending on congestion, national parks can be either a common resource or a public good
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Whether or not people have identical tastes, the net value that the marginal user receives from a common property is
a. positive. b. zero. c. negative. d. uncertain.
Consider a consumer with a choice set that emerges from an exogenous income I. Suppose that, as a result of changes in a consumer's economic circumstances, the budget line rotates outward, with the vertical intercept remaining unchanged but the horizontal intercept shifting to the right. Demonstrate, using the budget line equation, how this could have happened if the price of the good on the horizontal axis did not change?
What will be an ideal response?
Suppose that real GDP for 2015 was $10,000 billion and real GDP for 2016 was $9,500 billion. What is the rate of growth of real GDP between 2015 and 2016?
A) -10% B) -5% C) -2% D) -1%
The consumer price index is the
A) average of the prices of new final goods and services produced in the economy over a period of time. B) cost of a market basket of goods and services typically consumed in the base year. C) cost of a market basket of goods and services typically consumed in the current period. D) average of the prices of the goods and services purchased by a typical urban family of four.