When economists say that a good is nonexcludable, they mean that:
A. everybody wants it.
B. there is no practical way to stop a person who does not pay from enjoying the good or service.
C. more than one person can consume the good.
D. everybody is willing to pay for it.
Answer: B
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Full employment: a. exists when, on average, nearly two out of three adults in the labor force are employed. b. exists when everyone who wants a job has one. c. exists when the unemployment rate is zero
d. exists when everyone in the labor force has a job. e. will always include some unemployment.
The major problem facing the economy is high unemployment and weak economic growth. The inflation rate is low and stable. Therefore, the Federal Reserve decides to pursue a policy to increase the rate of economic growth. Which policy changes by the Fed would reinforce each other to achieve that objective?
A. Selling government securities and raising the discount rate B. Selling government securities and lowering the discount rate C. Buying government securities and lowering the discount rate D. Buying government securities and raising the reserve ratio