Which of the Following Is a Public Good

question 211

Multiple Choice

Which of the following is a public good?

• A) carrots
• B) education at Harvard
• C) clean air
• D) water

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Definitions:

Nominal GDP

Nominal GDP is the market value of all final goods and services produced within a country in a given period, measured in current prices.

Aggregate Output

The total value of all goods and services produced in an economy over a specific time period.

Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a specific time period at given prices.

Price Level

A measure of the average prices of goods and services in an economy at a given time.