From which of the following goods is it most difficult to exclude free riders?
A) Tickets for the Newport Jazz Festival
B) Food and beer sold at the Newport Jazz Festival
C) Programs and souvenirs sold at the Newport Jazz Festival
D) A radio simulcast of the Newport Jazz Festival
D
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The presence of government corruption in some countries
A) slows their economic growth. B) speeds their economic growth. C) invalidates the new growth theory's predictions. D) supports the classical growth theory's predictions. E) invalidates the neoclassical growth theory's predictions.
For complements, cross price elasticity of demand is:
a. Negative b. Positive c. between zero and one only d. zero.
Which of the following is an argument made in support of tariffs and import quotas?
a. protecting infant industries b. promoting national defense c. preventing product dumping d. all of the above
The marginal revenue curve is ________ the demand curve, and that total revenue reaches a ________ where marginal revenue is zero
a. below; minimum b. below; maximum c. above; minimum d. above maximum