A Good Is Nonexcludable If

question 63

Multiple Choice

A good is nonexcludable if

• A) only the government can produce it.
• B) nobody can be excluded from enjoying the benefits of the good.
• C) when you pay for the good, you are guaranteed to be the sole consumer.
• D) when you consume a unit, that means there is no less for someone else.
• E) it is also nonrival.

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Definitions:

Doggerel

A term unrelated to economics, referring to irregularly or poorly constructed verse, often of a humorous or trivial nature.

Paasche Price Index

An economic indicator that measures the change over time in the cost of a fixed basket of consumer goods and services, using the current period as the base.

Doggerel

Verse or words that are poorly written or expressed, often characterized by clichés, sloppy meter, and a lack of seriousness or artistic depth.

Revealed Preference

A theory in economics that assumes individuals' preferences can be discerned by observing their purchasing habits and behaviors.