Most goods are:
A. exclusive.
B. public goods.
C. rival in consumption.
D. nonrival in consumption.
C. rival in consumption.
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A one-time tax rebate, which is not expected to be extended in future years, will
A) have a significant positive effect on consumption and aggregate demand, with aggregate demand growing by a multiple of the tax rebate. B) have no effect on consumption and aggregate demand. C) increase aggregate supply and aggregate demand. D) have a moderately positive effect on consumption and aggregate demand.
Actions taken by investors who sell a country's currency in anticipation of buying it back later at a lower price is known as
A) purchasing power parity. B) destabilizing speculation. C) currency arbitrage. D) exchange rate manipulation.
The IS—LM model predicts that a temporary beneficial supply shock
A) increases output, national saving, and investment, but not the real interest rate. B) increases output, national saving, and the real interest rate, but not investment. C) increases the real interest rate, investment, and output, but not national saving. D) increases output, national saving, investment, and the real interest rate.
A production possibilities frontier can shift inward if there is
a. an increase in the unemployment rate b. mandatory retirement at age 55 c. an improvement in technology d. a larger work force e. a larger capital stock