Give an example of a public good. Explain what characteristics make this good a public good
What will be an ideal response?
Student responses will vary. The student should explain that the good is nonrival and nonexcludable.
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What are beliefs about what is right and wrong or good and bad called?
A) motivators B) rules C) cultures D) ethics E) laws
The World View article titled "The Education Gap between Rich and Poor Nations" says that 85 percent of all Americans graduate from high school. This is an example of
A. Capital-intensive production. B. The inequitable distribution of income. C. A negative externality. D. Investment in human capital.
Refer to the information provided in Figure 23.1 below to answer the question(s) that follow.
Figure 23.1Refer to Figure 23.1. At income level ________, this household's saving is greater than zero and this household's consumption is greater than zero.
A. -$200 B. $800 C. $1,000 D. $1,500
Refer to Figure 13-2. Ceteris paribus, a decrease in the price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.