A public good:
A. Generally results in substantial negative externalities
B. Can never be provided by a nongovernmental organization
C. Costs essentially nothing to produce and is thus provided by the government at a zero price
D. Can't be provided to one person without making it available to others as well
D. Can't be provided to one person without making it available to others as well
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The value of all the equipment and structures of an economy is referred to as:
A) wealth. B) national income. C) asset value. D) capital stock.
The earnings of which of the following resources comprises entirely of economic rent?
a. Unskilled labor b. Coal c. Timber d. Water e. Biomass
What do most economists believe about international trade?
a. It benefits all participants with no one harmed in the country. b. It benefits only big corporation but harms everyone else in a country. c. It benefits the majority of people but some people are harmed. d. It benefits no one and harms many people in the economy.
_____ is (are) legal in the United States.
A. Covert collusion B. Cut throat competition C. Cartels D. None of these choices are true.