It would always be a mistake to view
a. many species of animals as common resources.
b. a road as a public good.
c. national defense as a common resource.
d. a fireworks display as a public good.
c
You might also like to view...
In the IS curve, if Y increases for any given level of the real interest rate ________
A) consumption increases B) output decreases C) saving decreases D) all of the above E) none of the above
The goods and services purchased from foreign sources are:
A.) Investment. B.) Exports. C.) Imports. D.) Income transfers.
Suppose Qxd = 10,000 ? 2 Px + 3 Py ? 4.5M, where Px = $100, Py = $50, and M = $2,000. Then good X has a demand which is:
A. inelastic. B. elastic. C. unitary. D. neither elastic, inelastic, nor unitary elastic.
The long-run average cost of production is defined as:
A. total cost divided by the quantity of output the firm chooses when at least one factor is fixed. B. total cost divided by the quantity of output the firm chooses when it can choose a production facility of any size. C. the quantity produced by a firm that can choose any size production facility. D. the quantity produced by a firm when at least one factor is fixed.