An example of a nontradable good is:
A. insurance services.
B. fresh pizza.
C. a double-decker bus tour of London.
D. All of these would be considered a nontradable good.
C. a double-decker bus tour of London.
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What are some of the problems that exist with a laissez-faire economy?
What will be an ideal response?
All of the following factors will affect the supply of shoes except one. Which will not affect the supply of shoes?
a. higher wages for shoe factory workers b. higher prices for leather c. a technological improvement that reduces waste of leather and other raw materials in shoe production d. an increase in consumer income
An example of in-kind assistance to the poor is AFDC
Indicate whether the statement is true or false
A sewer system is
a. rival and exclusive, and therefore is a public good b. nonrival and nonexclusive, and therefore is a public good c. exclusive, but since it is nonrival, it is a public good d. nonrival, but since it is exclusive, it is a private good e. nonrival and nonexclusive, and therefore is a private good