If a good is excludable, ________
A) one person's use of the good reduces the amount of the good available to others
B) people can be prevented from using the good
C) more than one person cannot use the good at the same time
D) several people can use the good simultaneously
B
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Out of the three products, which product has a unitary elastic demand curve?
a. Cigarettes b. Alcohol c. Sodas d. None of the above
If parking is a very scarce commodity on your campus, but a parking lot with bus service is available at a distant location for no charge, what policy would you recommend to the president to increase the student use of this distant, but "free," lot?
Keeping landing fees low at airports during the "peak" hours
a. perpetuates congestion during those hours. b. is politically unpopular. c. contributes to efficient allocation of airport facilities. d. would lessen the problem of delayed flight landings.
If the number of unemployed equals 240,000 and the number of employed equals 300,000, the labor-force participation rate
A. is 80%. B. is 55.6%. C. is 24%. D. cannot be determined from this information.