What is knowledge an example of?
a) a public good
b) a private good
c) a common resource
d) a club good
Ans: a) a public good
Economics
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The table above displays the possible outcomes for Bob and Joe, who have been arrested for armed robbery and car theft. Which of the following is TRUE?
A) If Joe confesses, Bob should not confess. B) If Bob confesses, Joe should confess. C) The dominant equilibrium is that Joe and Bob both serve 2 years. D) If Joe does not confess, Bob should not confess.
Economics
About what percentage of the goods and services purchased by U.S. consumers, businesses, and governments in 2012 were produced by foreigners?
A) 5% B) 14% C) 18% D) 40%
Economics