A good that has the characteristics of nonexclusivity and nonrivalry is a
a. public good
b. merit good
c. social good
d. private good
e. collective good
A
Economics
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The utilitarianism, Rawlsian, and benefits-received arguments all favor a ________ tax system
A) regressive B) progressive C) proportional D) value-added
Economics
Economic efficiency
a. is guaranteed in perfectly competitive and monopolistically competitive markets b. is achieved in any market where firms are free to maximize profits c. leads to a fair distribution of income d. leads to a fair distribution of goods e. is most likely to be achieved in perfectly competitive markets
Economics