The achievement of the optimal allocation of society's scarce resources requires that regulators set prices equal to firms marginal cost

The two characteristics of a public good are:

a. Non-rival and inelastic b. Non-exclusive and non-priced c. Non-rival and non-priced d. Non-exclusive and inelastic e. Non-rival and non-exclusive

Swiss experience in the 1980s evidences the ________

A) effectiveness of targeting monetary aggregates B) need for discretion in the face of structural changes in the economy C) value of fiscal policy over monetary policy D) ascendancy of flexible exchange rate regimes over fixed exchange rate systems