An example of a good that is both rival and excludable is
A) the defense services provided by a new stealth bomber.
B) a pair of pants.
C) a beautiful sunset.
D) an uncrowded theme park such as Walt Disney World.
B
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Which of the following outcomes is NOT a result of a tax imposed on sellers of gasoline?
A) Supply decreases, a deadweight loss is created, and the price rises. B) The market becomes less efficient and the government collects the tax revenue. C) Demand does not change, the price rises, and consumer surplus decreases. D) Demand decreases, the market becomes more efficient, and the price rises.
Important sources of conflict in colonial America include conflicts between all of the following except
(a) Slaves and masters (b) Native Americans and colonists (c) Puritans, Roman Catholics, and Protestants (d) Indentured servants and masters