Which of the Following Characteristics Best Defines a Private Good

question 33

Multiple Choice

Which of the following characteristics best defines a private good?

• A) rival and excludable
• B) rival and nonexcludable
• C) nonrival and nonexcludable
• D) nonrival and excludable
• E) a good that is never produced by the government

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Definitions:

Monetary Policy

The process by which a country's central bank controls the supply of money, aiming to achieve macroeconomic goals like controlling inflation, consumption, growth, and liquidity.

Stabilize Economy

Efforts or policies designed to maintain economic stability by controlling inflation, reducing unemployment, and encouraging growth.

Government Debt

The total amount of money borrowed by the government of a country to fund its operations, which has not been repaid.

Economic Fluctuations

Variations in the level of economic activity, typically characterized by periods of expansion and contraction in real GDP.