Which of the following is not a characteristic of a public good?
A. Nonrivalry in consumption.
B. Available to nonbuyers
C. Can be consumed only once
D. Nonexclusivity
Answer: C
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Refer to the above figure. A movement from B to D would be a result of
A) an increase in the quantity of money in circulation. B) an increase in the marginal income tax rate. C) an increase in labor productivity. D) an increase in government expenditures.
The tragedy of the commons is the tendency of a society to overuse and deplete open-access resources
Indicate whether the statement is true or false
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and real GDP in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises, and real GDP rises. b. The quantity of real loanable funds per time period rises, and real GDP remains the same. c. The quantity of real loanable funds per time period and real GDP remain the same. d. The quantity of real loanable funds per time period rises, and real GDP falls. e. The quantity of real loanable funds per time period falls, and real GDP falls.
According to Keynesians, __________ monetary policy will not remove the economy from a(an) __________ gap if __________
A) contractionary; recessionary; investment is interest-insensitive B) expansionary; recessionary; the economy is in the liquidity trap C) expansionary; inflationary; investment is interest-insensitive D) contractionary; inflationary; the economy has been in the inflationary gap for more than one year E) none of the above