What is a nonrival good? Give an example
What will be an ideal response?
A good is nonrival if its use by one person does not decrease the quantity available for someone else. An example of a nonrival good is the Internet.
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The three categories of federal government expenditures, in addition to government purchases, are
A) interest on the national debt, defense spending, and transfer payments. B) defense spending, Social Security, and Medicare. C) defense spending, budgets of federal agencies, and transfer payments. D) interest on the national debt, grants to state and local governments, and transfer payments.
A change in the wage causes a shift in the supply curve for labor and a
A) shift along the demand curve for labor. B) shift in the demand curve for labor. C) rotation in the demand curve for labor. D) It cannot be determined by the information provided.
What are the factors that can shift the supply of financial capital to a certain investment?
a. if people do not want to alter their existing levels of risk b. if the riskiness or return on one investment is the same as other investments c. if the riskiness or return on one investment changes relative to other investments d. if people do not want to alter their existing levels of consumption
Sarah takes care of her son instead of sending him to a day care which charges $12,000 annually. Which of the following will happen if she puts him into a day care?
A) The country's GDP will increase by $12,000. B) The country's GDP will remain unchanged. C) The country's GDP will decrease by $12,000. D) The country's trade deficit will increase by $12,000.