Collective consumption goods are _____
a. goods that can be consumed by additional consumers without reducing the amount available to existing consumers
b. goods that can be produced for everyone at zero marginal cost
c. goods that are produced and consumed by an entire group, such as a commune that raises its own vegetables
d. goods that once produced, can be consumed by additional consumers without reducing the amount available to existing consumers
d
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A major impact of the transatlantic telegraph was
A) a reduction in time required to complete a financial transaction between New York and London B) an increase in labor flows across the Atlantic. C) a decrease in trade barriers between the United States and Europe. D) an increase in trade conflicts between the United States and Europe. E) that nations abandoned the gold standard.
Labor resources:
a. include only physical activities. b. are only counted as a resource if used in the production of other resources. c. include only skilled labor. d. include both physical and mental activities. e. include human effort involved in the production of goods, but not services.