Identify the Truthfulness of the Following Statements: I

question 60

Multiple Choice

Identify the truthfulness of the following statements: I. Equilibrium analysis helps economists determine the market-clearing price.
II. Comparative statics help economists analyze how a change in an exogenous variable affects the level of a related endogenous variable in an economic model.

• A)Both I and II are false
• B)Both I and II are true
• C)I is true; II is false
• D)I is false; II is true

---

Definitions:

Public Good

For the benefit of all society members, goods or services are offered at no cost, either by government agencies or private individuals or organizations, not with the aim of profit.

Civil Defense System

A civil defense system encompasses measures and responses designed to protect civilians and infrastructure from natural disasters, military attacks, or other emergencies.

Public Good

Goods or services available to all in society without charge, delivered by the government or private organizations, without the intention of making a profit.

Rival Consumption

A situation where the consumption of a good by one individual prevents simultaneous consumption by other individuals.