Government provides a nonexcludable public good that the public demands and can't seem to acquire through the market. This is government
A) acting as a transfer mechanism.
B) being non-productive.
C) engaging in rent-seeking activities.
D) being productive.
E) a and c
D
Economics
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When less than the efficient amount of a good is produced, how does the marginal social benefit of the last unit produced compare to its marginal social cost?
What will be an ideal response?
Economics
The 45-degree line used in a consumption function represents:
a. the saving function. b. all points at which saving equals disposable income. c. all points at which consumption equals saving. d. all points at which all disposable income is consumed. e. the aggregate income of the economy.
Economics