A public good:
a. is rivalrous in consumption and excludable
b. in nonrivalrous in consumption and nonexcludable
c. must be produces by government
d. both b. and c.
Ans: d. both b. and c.
Economics
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If the cross-elasticity of demand for two goods is negative, this means that:
a. only the poor will buy the goods. b. they are normal goods. c. the goods are substitutes. d. the goods are complements.
Economics
Net exports are negative when:
A. a nation's imports exceed its exports. B. the economy's stock of capital goods is declining. C. depreciation exceeds domestic investment. D. a nation's exports exceed its imports.
Economics