The Provision for an Interstate Highway System Is Considered to Be

question 68

Multiple Choice

The provision for an interstate highway system is considered to be a

• A)liability.
• B)labor cost.
• C)public good.
• D)market structure.
• E)tangible good.

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Definitions:

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Unemployment

The state of being without a job despite actively looking for work, measured as a percentage of the labor force.

Normative Economics

Normative economics deals with the evaluation of economic outcomes through the prism of what ought to be, recommending actions by what is deemed desirable or ideal.

Macroeconomics

The branch of economics that studies overall economic dynamics, including inflation, unemployment, and economic growth, on a national or global scale.