The non-exclusion principle means
A. no one can be excluded from the benefits of a public good, even if the person does not pay for it.
B. no one who pays for a public good can be excluded from receiving the benefits of a public good.
C. no one can be excluded from the benefits of a private good, even if only one person pays for it.
D. people who do not pay for a public good can be excluded from receiving its benefits.
Answer: A
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If real GDP increases from $5 billion to $5.25 billion and the population increases from 2 million to 2.02 million, real GDP per person increases by ___ percent
A. 5.0 B. 1.0 C. 2.5 D. 4.0
The price to attend a NBA basketball game in Chicago is $55 while the CPI in Chicago is 153. The CPI in Charlotte is 108 while the price to attend a NBA basketball game is $52
Which city offers a smaller real cost of attending a NBA basketball game?
The income elasticity of demand is the
A) absolute change in quantity demanded resulting from a one unit increase in income. B) percent change in quantity demanded resulting from the absolute increase in income. C) percent change in quantity demanded resulting from a one percent increase in income. D) percent change in income resulting from a one percent increase in quantity demanded. E) percent change in income resulting from a one percent increase in price.
The share of GDP going to federal taxes
A. has been about 16 to 20 percent for the past 40 years. B. has been about 35 percent for the past 40 years. C. was about 40 percent until the early 1980s and has dropped greatly since then. D. has risen steadily in the past 40 years to about 35 percent.