Which of the Following Goods Is Both Excludable and Rival

question 289

Multiple Choice

Which of the following goods is both excludable and rival in consumption?

• A)a wristwatch
• B)fire protection in a small town
• C)fish in the ocean
• D)efforts to fight poverty

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Definitions:

Unemployment

The situation where individuals who are capable of working and actively seeking work are unable to find employment.

Prices and Wages

Refers to the levels of remuneration for labor and the cost of goods and services in an economy, which can impact inflation and purchasing power.

Natural Rate

The rate of a quantity, such as unemployment or interest, that prevails when the economy is in a long-term equilibrium.

Classical Dichotomy

The theoretical separation of nominal and real variables in classical economics, suggesting that changes in the money supply only affect nominal variables.