Goods that are both non-excludable and non-rival are referred to as _____
a. common resources
b. natural resources
c. public goods
d. private goods
c
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What effect does a contractionary monetary policy in the U.S. have on the foreign trade sector?
A) The higher value of the dollar will decrease imports and increase exports. B) The higher value of the dollar will decrease exports and increase imports. C) The lower value of the dollar will decrease imports and increase exports. D) The lower value of the dollar will decrease exports and increase imports.
Refer to Figure 5-3. With insurance and a third-party payer system, the equilibrium quantity of medical services is
A) 400. B) 800. C) 1,200. D) > 1,200.
According to the Weber-Fechner law, the perceived change in any stimulus:
A. is larger when the change is large in proportion to the original stimulus. B. is larger when the change is small in proportion to the original stimulus. C. does not depend on the size of the change in proportion to the original stimulus. D. is zero regardless of the size of the original stimulus.
Teacher absenteeism is a problem facing education in the developing world.
Answer the following statement true (T) or false (F)