The national defense of the United States is not excludable because
a. my enjoyment of the national defense does not diminish your enjoyment of the national defense of the United States.
b. my enjoyment of the national defense does diminish your enjoyment of the national defense of the United States.
c. once the nation is defended, it is impossible to prevent any single person from enjoying the benefit of this defense.
d. once the nation is defended, it is possible to prevent any single person from enjoying the benefit of this defense.
c
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Give an example of currency depreciation and appreciation
What will be an ideal response?
As of 2013, the outstanding U.S. currency is more than $1 trillion, which suggests that the typical U.S. citizen holds $3,600 in cash. Is this an accurate inference? Why?
A) Yes; because dividing total currency by total U.S. population roughly works out to $3,600 per person. B) No; because criminals and foreigners hold large sums of dollars, so the average citizen holds far less. C) No; because the average citizen probably does not have $3,600 in her checking account. D) Yes; because the Fed rarely makes accounting mistakes when computing M1. E) none of the above