Which of the Following Pairs of Goods Includes a Good

question 102

Multiple Choice

Which of the following pairs of goods includes a good that is excludable and rival in consumption as well as a good that is not excludable and not rival in consumption?

• A)tablet computer, gym membership at a gym that always has plenty of open equipment and classes
• B)tablet computer, national defense
• C)congested nontoll road, national defense
• D)online music subscription, streetlight

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Definitions:

Loan Repayment

The process of paying back borrowed money, typically in installments over a set term.

T-Bill

Short-term government debt security with a maturity of less than one year.

Simple Interest

A method of calculating interest where it is applied only to the principal amount, not on the accumulated interest.

Profit

The financial gain obtained when revenue from business activities exceeds the expenses, costs, and taxes involved in operating.