Artificially scarce goods are both:
a. excludable and rival in consumption.
b. nonexcludable and nonrival in consumption.
c. excludable and nonrival in consumption.
d. nonexcludable and rival in consumption.
Ans: c. excludable and nonrival in consumption.
Economics
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A) using a contractionary monetary policy. B) an increase in taxes. C) a decrease in government purchases. D) using an expansionary fiscal policy.
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Suppose Good A is a normal good. Which of the following will increase the demand for Good A?
A) an increase in the price of its substitutes B) a lower expected future relative price of A C) an increase in the price of its complements D) a decrease in income
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