If it possible to prevent a person from enjoying the benefits of a good unless the person pays for the good, the good is
A) rival.
B) excludable.
C) pure.
D) free.
B
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A consumer possesses five pounds of bananas and values their total utility at $2.14. If one additional pound is acquired and marginal utility is 11 cents, total utility will
A. rise to $2.25. B. fall to $2.03. C. stay the same. D. fall to $2.11.
When the Fed increases the money supply, interest rates
a. rise, causing velocity to fall. b. fall, causing velocity to fall. c. rise, causing velocity to rise. d. fall, causing velocity to rise.
Other things the same, if the U.S. interest rate rises, what happens to the net capital outflow of other countries?
Comment on the statement: “Discretionary fiscal policy offers an ideal approach to dealing with the nation’s economic problems. It is without problems, criticisms, or complications.”
What will be an ideal response?