The efficient quantity of a public good is the quantity that sets the marginal social benefit from the good equal to the good's marginal social cost

The rules of the National Collegiate Athletic Association (NCAA) limit the amount of money colleges can offer to athletes to

A) assure balanced competition on collegiate athletic fields. B) maintain high ethical standards in college sports. C) preserve the spirit of amateurism in an age of professionalism. D) prevent competition for star athletes from raising the price of enrolling them. E) prevent the schools with the most profitable athletic programs from attracting more than their share of the best athletes.

An economy that does not have interactions in trade or finance with other economies is referred to as

A) a closed economy. B) an open economy. C) a net foreign investment economy. D) a trade-balanced economy.