Which of the following represents an accurate situation for a perfectly competitive firm?

An advantage monetary policy has over fiscal policy is that monetary policy

A) can be quickly changed and implemented. B) is coordinated with fiscal policy. C) is approved by the president of the United States. D) affects consumption expenditure and investment without impacting international trade. E) has no multiplier effects.

Which of the following characteristics is essential if a good is to be efficiently provided by a market economy?

a. The good should be subject to overuse. b. The good should be subject to the free rider problem. c. The good should be a common resource. d. The good should be excludable and rival in consumption