A professional baseball game is
a. rival and exclusive, and therefore is a public good
b. rival and exclusive, and therefore is a private good
c. exclusive, but since it is nonrival, it is a public good
d. nonrival and nonexclusive, and therefore is a public good
e. nonrival and nonexclusive, and therefore is a private good
B
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A corrective subsidy induces the ________ to the socially optimal level
A) consumers of a negative externality to increase the quantity consumed B) producers of a negative externality to increase the quantity produced C) consumers of a positive externality to increase the quantity consumed D) producers of a positive externality to reduce the quantity produced
When the inflation rate is positive, the
A) real interest rate is greater than the nominal interest rate. B) real interest rate is less than the nominal interest rate. C) nominal interest rate is zero. D) real interest rate equals the nominal interest rate.