A product is considered to be rival if
A) your consumption of the product reduces the quantity available for others to consume.
B) you can keep those who did not pay for the item from enjoying its benefits.
C) you cannot keep those who did not pay for the item from enjoying its benefits.
D) it is jointly owned by all members of a community.
A
Economics
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If real Gross Domestic Product (GDP) is $6 trillion, then unplanned business inventories will
A) rise. B) be zero. C) fall. D) be equal to planned inventories.
Economics
Which of the following will cause a movement upward along a supply curve?
a. Increases in raw-material costs. b. Increases in labor costs. c. Increases in the cost of machinery. d. Increases in the market price of a good, other things being equal.
Economics