People are said to have ________ if they use all available information in forming their expectations.

Which of the following correctly defines the term "equilibrium"?

A) It refers to analysis that uses data to arrive at conclusions. B) It refers to a situation where all agents are simultaneously optimizing. C) It refers to an optimizing decision made by an individual economic agent. D) It refers to government intervention that efficiently allocates scarce resources.

In order to be a public good a good must be both a collective consumption good and be nonexcludable

a. True b. False