Government Actions Designed to Affect the Performance of the Economy

question 36

Multiple Choice

Government actions designed to affect the performance of the economy as a whole are called ________ policies.

• A)global
• B)microeconomic
• C)macroeconomic
• D)social

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Definitions:

Rivalry

Competition between businesses or individuals for market share, resources, or achievements.

Excludability

Excludability is a property of a good or service that allows its owner to prevent others from using it without permission, which is important for classifying goods in economic terms.

Public Good

Services or commodities made available to every person in a society free of cost, courtesy of either the government or non-governmental organizations, devoid of profit objectives.

Marginal Benefit

Marginal Benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.