If business inventories equal $40 billion at the beginning of the year and $55 billion at the end of the year, then, assuming no other changes, GDP must have:

Private decisions about consumption of common resources and production of public goods usually lead to an

a. efficient allocation of resources and external effects. b. efficient allocation of resources and no external effects. c. inefficient allocation of resources and external effects. d. inefficient allocation of resources and no external effects.

Goods that are excludable include both

a. club goods and public goods. b. public goods and common resources. c. common resources and private goods. d. private goods and club goods.