Examlex
Explain the thinking behind Milton Friedman's famous declaration that "inflation is always and everywhere a monetary phenomenon."
Common Resource
A type of good that is non-excludable and rivalrous, such as fish stocks in the ocean; it is available to all but can be depleted by excessive use.
Public Good
A good that is both nonexcludable and nonrival in consumption.
Fire Protection
A range of measures and services designed to minimize the impact of fire on people, property, and the environment.
Private Good
A good that is both excludable and rival in consumption.
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