Which of the Following Is a Nonrival Good

question 23

Multiple Choice

Which of the following is a nonrival good?

• A) a peanut butter sandwich
• B) orange juice
• C) a jacket
• D) All of these answers are correct.
• E) None of these answers are correct.

---

Definitions:

Natural Rate of Unemployment

The level of unemployment consistent with a stable rate of inflation, determined by the structure of the labor market.

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

Natural Rate of Unemployment

The level of unemployment consistent with a stable rate of inflation, also seen as the equilibrium between the labor force and the number of available jobs.

Actual Inflation

The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling, as measured over a specific period.