If a good is available only to those who pay for it, the good is:
A. excludable but not necessarily rival.
B. excludable and rival.
C. rival but not necessarily excludable.
D. nonrival and nonexcludable.
Answer: A
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An economy is better off with an increase in the stock of capital
Indicate whether the statement is true or false
Along any IS curve
a. both government spending and expectations are fixed. b. government spending and the price level may vary. c. consumption and the price level are fixed. d. both government spending and tax rates may vary. e. all of the above
Which of the following properties is common to a partnership business?
a. Limited liability b. Centralized ownership and management c. Continuity and unlimited existence of the business d. Co-ownership of contributed assets
Statistical correlation always implies causation.
Answer the following statement true (T) or false (F)