An example of a good that is nonexcludable is:
A. an art exhibition with an admission fee.
B. a piece of Velcro.
C. space exploration.
D. a bottle of Tang.
Answer: C
Economics
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Hospitals announce that there are not enough nurses available to keep them fully staffed. Economically speaking, what does this announcement mean?
A) The market wage for trained nurses is currently above the equilibrium wage. B) There is currently a surplus of nurses in this market. C) The market wage for nurses will eventually rise to the market clearing wage. D) The market will adjust very rapidly to correct this imbalance because anyone can be a nurse without any training.
Economics
A major cost of unemployment is lost production
a. True b. False Indicate whether the statement is true or false
Economics