Because It Is

question 373

Multiple Choice

Because it is

• A)excludable but not rival in consumption, a sweatshirt is a club good.
• B)rival in consumption but not excludable, a sweatshirt is a club good.
• C)both excludable and rival in consumption, a sweatshirt is a private good.
• D)neither excludable nor rival in consumption, a sweatshirt is a public good.

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Definitions:

Caste Systems

A form of social stratification characterized by hereditary ranks, usually religiously dictated, and often associated with a particular occupation.

Equality

A principle regarding the equal treatment and impartiality towards all individuals, often in the context of rights, status, and opportunities.

Debt

An obligation of repayment owed by one party (the debtor) to a second party (the creditor); in most cases this refers to financial assets being owed.

U.S. Middle Class

A socioeconomic group in the United States characterized by moderate levels of income, educational attainment, and occupational status, often considered the backbone of American society.