If One Person's Enjoyment of the Benefits of a Good

question 67

Multiple Choice

If one person's enjoyment of the benefits of a good does not interfere with another's consumption of it, the good is

• A) excludable.
• B) nonexcludable.
• C) rival in consumption.
• D) nonrival in consumption.

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Definitions:

Technological Change

The innovation and improvement in technology, processes, or methods, leading to increased efficiency, productivity, and new product development, affecting various sectors of an economy.

Productivity Growth

The increase in the efficiency of production in an economy, often measured by the output per unit of input over time.

Disposable Income

After-tax income. Term applies to individuals and to the nation.

Welfare Rolls

A list or register of individuals who are receiving welfare benefits provided by a government.