What are the key characteristics of a public good?
What will be an ideal response?
A public good is not subject to the principle of rival consumption in the sense that it can be provided to different individuals without additional costs. A public good is also subject to the free-rider problem in the sense that persons can benefit from the good without paying for it.
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When compared with China, the growth of clothing exports originating in Bangladesh clearly illustrates the Ricardian model of comparative advantage. Discuss and explain
What will be an ideal response?
In mid-2009, publicly held debt was approaching ______ and total debt was approaching ______
a. $1 trillion; $12 trillion. b. $3 trillion; $6 trillion. c. $12 trillion; $7 trillion. d. $7 trillion; $12 trillion. e. $12 trillion; $12 trillion.