Which of these goods may be considered rivalrous in consumption and nonexcludable?
A. wilderness areas
B. national defense
C. broadcast television reception
D. fire insurance
Answer: A
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A currency is overvalued if its exchange rate vis-à-vis a foreign currency is:
A) at the equilibrium exchange rate. B) not pegged. C) below the equilibrium exchange rate. D) above the equilibrium exchange rate.
The statement "Managers with a college education earn $18 an hour while ski instructors who did not complete college earn $10" is
A) a political statement. B) a positive statement. C) a normative statement. D) an ethical statement.
The U.S. federal government relies more heavily on sales taxes, excise taxes, and customs duties than nearly any other government in the world
a. True b. False Indicate whether the statement is true or false
Which of the following will most likely happen if there is a surplus of money?
a. Fewer people will invest in treasury bills. b. Fewer people will exchange money for CDs. c. More people will transfer money from high interest saving accounts to checking accounts. d. More people will exchange money for bonds.