The base period is the time period used for comparative analysis.
Indicate whether the statement is true or false.
Ans: True.
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Private goods are ________
A) excludable but non-rival in consumption B) non-excludable and non-rival in consumption C) non-excludable but rival in consumption D) excludable and rival in consumption
Bob invests $25 in an investment that has a 50% chance of being worth $100 and a 50% chance of being worth $0. From this information we can conclude that Bob is
A) risk loving. B) risk neutral. C) risk averse. D) Any one of the three above.
Which fact about recycling is incorrect?
A. Between 1980 and 2008, recycling in the United States has tripled. B. As of 2014, the 27 European Union members recycled more in terms of a percentage of garbage than the United States. C. Recycling rates of commonly used materials in the United States and industrial countries have fallen. D. Only 9 percent of plastics are recycled.
An indifference curve illustrates the prices facing a consumer as she chooses how much X and how much Y to consume.
A. True B. False