Economists Consider a Product Such as a University Education to Be

question 89

Multiple Choice

Economists consider a product such as a university education to be ________,whereas a product such as your local library is generally considered to be ________.

• A)non-rivalrous and non-excludable; rivalrous and non-excludable
• B)rivalrous and non-excludable; rivalrous and excludable
• C)rivalrous and excludable; non-rivalrous and excludable
• D)rivalrous and excludable; rivalrous and non-excludable
• E)non-rivalrous and excludable; non-rivalrous and excludable

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Definitions:

Heo and Hahm

Not a widely recognized key term within a general academic or professional context. It might refer to specific individuals or studies in a specialized field but lacks recognition as a stand-alone key term.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

International Monetary Fund

An international organization created to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.

World Trade Organization

An international organization established in 1995 to regulate international trade, aiming to ensure that trade flows as smoothly, predictably, and freely as possible.