Goods that are rival in consumption and excludable would be considered
a. club goods.
b. common resources.
c. public goods.
d. private goods.
d
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If the exchange rate rises as shown by the arrow, the price of American exports to foreigners will be ________, and foreign nations will demand ________ dollars in order to buy ________ American exports
A) higher; fewer; fewer B) cheaper; fewer; more C) cheaper; more; more D) cheaper; fewer; fewer E) higher; more; more
Under the Exchange Rate Mechanism of the European Monetary System, when the German mark depreciated below its lower limit against the British pound, the Bank of England was required to buy ________ and sell ________,
thereby ________ international reserves. A) pounds; marks; losing B) pounds; marks; gaining C) marks; pounds; gaining D) marks; pounds; losing
Diseconomies of scale refers to when in the long run:
A. average total cost does not depend on the quantity of output. B. an increase in the quantity of output increases average total cost. C. an increase in the quantity of output decreases average total cost. D. None of these is true.
If financial markets didn't exist:
A. liquidity would diminish and returns would be lower. B. liquidity would diminish, reducing the flow of funds between borrowers and savers. C. required returns would be lower since fewer instruments would trade. D. more funds would flow directly between borrowers and savers.