GA 400 is a state highway that runs through part of Atlanta,GA. In order to travel on one portion of GA 400, drivers are required to pay a toll. It follows that section of GA 400 will exhibit non-rivalry in consumption if
a. the road is congested.
b. the road is not congested.
c. the toll is decreased.
d. the the toll is completely removed.
b. the road is not congested.
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Which of the following is not a characteristic of "perfect" markets?
A) Buyers and sellers can transact with each other directly if transaction costs are set at an appropriate level. B) Securities are infinitely divisible. C) Buyers and sellers know the true quality of what they are buying and selling. D) All of the above are characteristics of perfect markets.
Suppose there is a fiscal contraction. Which of the following is a complete list of the variables that must decrease?
A) consumption B) consumption and investment C) consumption and output D) consumption, output and the interest rate E) consumption, output and investment