What goods would be considered both excludable and rival in consumption?

a) private goods
b) common goods
c) public goods
d) natural monopolies

Ans: a) private goods

Economics

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If a worker is temporarily laid off because the economy is in a recession, frictional unemployment increases

Indicate whether the statement is true or false

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A process of _____ among candidates in a representative democracy leads to the outcome preferred by the median voter

a. cheating b. political competition c. bargaining d. log-rolling

Economics