Toll-Free Roads Sometimes Get Congested, Such as During Rush-Hour Traffic

question 135

Multiple Choice

Toll-free roads sometimes get congested, such as during rush-hour traffic. During those times, we would say that these roads are

• A)excludable and rival.
• B)excludable and nonrival.
• C)nonexcludable and nonrival.
• D)nonexcludable and rival.

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Definitions:

Negative Framing Effect

A psychological phenomenon where people make decisions based on the presentation of negative outcomes rather than positive ones, even when both presentations convey the same information.

Smooth Consumption

A concept in economics where individuals prefer to have a stable consumption pattern over time, smoothing out the highs and lows in their spending and consumption.

Future Earnings

The expected amount of money an individual, business, or asset is anticipated to generate in the future.

Behavioral Economists

Specialists in economics focusing on how psychological, emotional, cultural, and social factors influence the economic decisions of individuals and institutions.