A public good:
A. can be profitably produced by private firms.
B. is characterized by rivalry and excludability.
C. produces no positive or negative externalities.
D. is available to all and cannot be denied to anyone.
Answer: D
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Refer to Figure 29-1. Italians cut back on smoking and cut their demand for American cigarettes in half. Assuming all else remains constant, this would be represented as a movement from
A) A to D. B) D to C. C) B to C. D) B to A.
Which of the following statements is least accurate with regard to immigration after the Civil War?
a. The number of immigrants fluctuated dramatically until World War I. b. The proportion of immigrants from Northern and Western Europe fell dramatically. c. The cost of crossing the Atlantic was much lower than it was in earlier decades. d. A growing network of relatives in the US could help immigrants find jobs and places to live. e. The majority of immigrants moved to the Midwest to take advantage of the excellent farming opportunities.