A pure private good is one
a. that is nonrival and nonexcludable
b. that is rival but excludable
c. that is rival and excludable
d. that is nonrival but excludable
e. one whose production imposes a cost on third parties
C
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If the number of potential workers in a country is 25 million, and the size of the labor force in the country is 17 million, the number of adults not in the work force will equal:
A) 43 million. B) 8 million. C) 25 million. D) 17 million.
The difference between the federal budget deficit and the national debt is that the:
a. deficit is a stock variable and the debt is a flow variable. b. deficit is a flow variable and the debt is a stock variable. c. debt includes interest payments and the deficit does not. d. deficit can be positive, but the debt can not e. debt can be negative, but the deficit cannot.