Nonrivalry and nonexcludability are the main characteristics of:
A. consumption goods.
B. capital goods.
C. private goods.
D. public goods.
Answer: D
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All of the following are differences between partnerships and corporations except
A) scale of ownershi
If regulations create barriers to entry in an industry, the result can be _____
a. efficiency b. monopoly c. monopsony d. higher output
All but which one of the following could be expected to result from rent controls?
a. an increase in housing b. substandard housing c. waiting lists for housing d. a decline in apartment construction e. black market in housing
Which of the following is a correct statement?
A. Demand-pull inflation is usually accompanied by higher unemployment rates. B. A supply shock will cause a variation of demand-pull inflation that can lead to hyperinflation. C. It is relatively easy to distinguish between cost-push and demand-pull inflation even if you don't know the source of the inflation. D. Demand-pull inflation will continue so long as there is excess total spending in the economy.