A Public Good Is

question 26

Multiple Choice

A public good is

• A) neither rival nor excludable.
• B) rival but not excludable.
• C) both rival and excludable.
• D) not rival but excludable.

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Definitions:

Aggregate Demand

Complete economic consumption desires for all goods and services, measured at a particular total price level within a predetermined timeframe.

Price Level

An index that measures the average of current prices across the entire spectrum of goods and services produced in the economy compared to a base year.

Interest Rate

The interest rate is the percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Business Production

Activities involved in the creation of goods and services to meet consumer demand.