In recent years defense expenditures has fallen as a share of federal government outlays.

In recent years defense expenditures has fallen as a share of federal government outlays.
a. True
b. False

QUESTION 2

Externalities can occur as a result of either production or consumption activities.
a. True
b. False

QUESTION 3

Public goods are both rival and nonexclusive.
a. True
b. False

QUESTION 4

A positive externality is one in which there is an external benefit bestowed on a third party>
a. True
b. False

QUESTION 5

Which of the following is an example of a capital resource?
a. a bank loan
b. a corporate bond
c. a tractor used by a farmer
d. a lawn tractor used by a household
e. 100 acres of prime farmland

QUESTION 6

Which of the following include the four basic resources supplied by households?
a. natural resources, labor, intelligence, capital
b. money, labor, natural resources, entrepreneurial ability
c. intellectual ability, physical ability, money, natural resources
d. labor, capital, intelligence, entrepreneurial ability
e. labor, natural resources, entrepreneurial ability, capital

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In recent years defense expenditures has fallen as a share of federal government outlays.

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