If a person who does not pay for a good can be prevented from consuming it,
a. that good is said to be excludable
b. that good is said to be nonexcludable
c. consumption of that good creates a positive externality
d. production of that good creates a negative externality
e. that good is called a pure public good
A
You might also like to view...
Which of the following four firms would most likely NOT be part of a perfectly competitive market?
A) Mark sells his tomatoes at the local farmers market. B) The WaveHouse is the only place in San Diego where you can ride an indoor 10 foot wave. C) Village Pizza sells pizza in a college town. D) Space Age Fuel is a gas station in Bend, Oregon.
When you are working, you pay more unemployment insurance than you get from it and when you're unemployed, you get more from it than you pay in. That's why the insurance is called
a. an automatic stabilizer b. an automatic destabilizer c. a discretionary stabilizer d. a destabilizing influence on the Phillips curve e. a stabilizing influence on the Phillips curve
According to the Coase theorem, the private market will need government intervention in order to reach an efficient outcome
a. True b. False Indicate whether the statement is true or false
Assume that the federal funds rate is at its target, 2 percent, output is about 1 percent beneath potential, and inflation is roughly 1.5 percent. If the Taylor rule is accurate, the Fed's desired rate of inflation at this time would be:
A. 5 percent. B. 2.5 percent. C. 3.5 percent. D. 1 percent.