"Free riding" is a characteristic of which type of good?
A) a private good B) a good that is both rival and excludable
C) a public good D) a common resource
C
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The main result of the monetarist model is that
A) the economy is slow to adjust to sticky wages and prices. B) workers and firms have rational expectations. C) the quantity of money should be increased at a constant rate. D) productivity shocks explain fluctuations in real GDP.
Regarding the output growth slowdown during the 1970s and 1980s, it is true that
a. the slowdown took place in the U.S. but not other developing countries. b. the primary determinant of the slowdown was lower labor productivity growth. c. increases in capital formation did not offset some of the slowdown in labor productivity growth. d. both b and c.
The term frictional unemployment refers to persons who are out of work
a. due to technological change. b. due to strikes or lockouts. c. and have given up looking for work. d. because they are between jobs.
There is some agreement between the beliefs of President George W. Bush in 2001 on the effectiveness of tax cuts with the beliefs of former President
a. Keynes. b. Clinton. c. Reagan. d. Carter.