Goods that are not rival in consumption, but are excludable are:
A. a common resource.
B. an artificially scarce good.
C. a public good.
D. a private good.
Answer: B
Economics
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Suppose that at the beginning of a loan contract, the real interest rate is 4% and expected inflation is currently 6%. If actual inflation turns out to be 7% over the loan contract period, then
A) lenders gain 3% of the loan value. B) borrowers lose 3% of the loan value. C) lenders gain 1% of the loan value. D) borrowers gain 1% of the loan value.
Economics
Harry's Hookahs incurs $700,000 per year in explicit costs and $500,000 in implicit costs. The company earns $1.4 million in revenues and has $3.7 million in net worth. Based on this information, what is the accounting profit for Harry's Hookas?
A) $200,000 B) $700,000 C) $900,000 D) $1.1 million
Economics