Common resources differ from public goods in that
A) common resources are resources that cannot be renewed but the production of public goods can be increased any time.
B) common resources are collectively owned by a group of people while public goods are government owned.
C) unlike public goods, common resources are rival in consumption.
D) common resources are non-excludable while public goods are excludable to those who do not pay for the good.
C
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Should I buy a new or a used copy of the textbook? According to the economic way of thinking, the person is asking about
A) economic efficiency. B) educational efficiency. C) scholastic efficiency. D) motivational efficiency. E) academic efficiency.
Assume that an American investor decides to buy one-year Swiss bonds that are denominated in Swiss francs and pay 2 percent annual interest. For this purpose, $10,000 is exchanged into Swiss francs at an exchange rate of $1 = 2Fr to buy the bonds. How many dollars will the investor have after one year if the exchange rate is $1 = 1.5Fr?
a. $10,000 b. $10,200 c. $15,300 d. $13,600 e. $7,650