Neither public goods nor common resources are
a. excludable, but only public goods are not rival in consumption.
b. excludable, but only common resources are not rival in consumption.
c. rival in consumption, but only public goods are not excludable.
d. rival in consumption, but only common resources are not excludable.
a
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In general, one would expect that life expectancies reflect international differences in income levels. Do the data support such a claim?
A) Average life span falls as relative poverty falls. B) Average life span increases as relative poverty falls. C) There is no statistically significant relationship between the two. D) The relation is not very strong. E) The relationship looks more like a U-shape.
Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from D1 to D2. The price the seller receives for the product after the tax is imposed on the buyer is
A. $7. B. $5. C. $8. D. $3.