A private good is ________ and ________
A) rival; excludable
B) nonrival; excludable
C) rival; nonexcludable
D) nonrival; nonexcludable
A
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Complete crowding out implies that a government deficit financed by selling bonds to the nonblank public will
A) have no effect on aggregate demand. B) reduce aggregate demand. C) increase aggregate demand. D) reduce aggregate demand in the short run but cause demand to increase in the long run.
One way of expressing the concept of the short-run Phillips curve is to say that: a. the cost of reducing unemployment is higher inflation
b. nothing but good comes from reducing unemployment. c. the cost of reducing inflation is lower unemployment. d. aggregate supply and aggregate demand will always be equal at the potential output level. e. the best economic policy is one that attempts to make the rate of inflation equal to the rate of unemployment.
Rent controls encourage investment in housing because they bring stability to the market
a. True b. False Indicate whether the statement is true or false
Which of the following changes could have shifted AE1 to AE2?
a. an overall increase in income
b. an overall decrease in income
c. in increase in the interest rate
d. an increase in consumer confidence