A public good such as a streetlight will not be provided by a private profit-seeking company because

a. the streetlight is also a merit good
b. the streetlight is an exclusive and rival good
c. it takes a government to maintain the streetlights, e.g., changing bulbs
d. private companies can't compete with government in producing streetlights
e. the benefit a person derives from having streetlights are less than the cost of installing streetlights

E

Economics

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You rent a DVD of The Dark Knight Rises. The rental is for seven days and you watch the movie on the first day. You tell a friend about the film and your friend asks to come over and watch the movie with you before it is due back

What is your opportunity cost if you decide to watch the movie a second time instead of going to a football game? A) the entire cost of the movie rental, since you have already watched the movie B) one half the rental cost, because you have already watched the movie one time C) The answer depends on how much you liked the movie in the first place. D) the football game you forego by watching the movie again

Economics

The components of aggregate expenditure that are not influenced by GDP are known as

A) fixed expenditure. B) induced expenditure. C) planned expenditure. D) unplanned expenditure. E) autonomous expenditure.

Economics