Merit goods are

a. goods that everyone wants
b. goods that are rewards for appropriate behavior
c. the same as public goods
d. goods that some people think we need more of
e. only produced by the government


D

Economics

You might also like to view...

In the long run, a firm in a perfectly competitive market will

A) make zero economic profit, so that its owners earn a normal profit. B) make zero normal profit but its owners will make an economic profit. C) remove all competitors and become a monopolistically competitive firm. D) incur an economic normal loss but not earn a positive economic profit. E) remove all competitors and become a monopoly.

Economics

If an individual moves money from currency to a demand deposit account

A) M1 decreases and M2 stays the same. B) M1 stays the same and M2 increases. C) M1 stays the same and M2 stays the same. D) M1 increases and M2 stays the same.

Economics

Corrina was working as a waitress in an Italian restaurant making an annual income of $25,000 per year when she decided to start up her own catering business

Corrina used $10,000 of her savings that was earning 5 percent annual interest to establish her business. After the first year she made an accounting profit of $20,000. Her economic profit was A) $5,550. B) -$5,000. C) $20,000. D) $25,000.

Economics

It is possible through trade for a country to consume a combination of goods that lies beyond its production possibilities frontier

Indicate whether the statement is true or false

Economics