Because collective action problems are ________ to solve, society often ________
A) relatively easy; handles the problems itself
B) relatively easy; ignores the problems
C) impossible; chooses to live with the problems
D) difficult; requests help from the government
D
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Patents function to
A. establish permanent monopolies. B. temporarily protect monopoly power. C. encourage firms to reduce output. D. reduce monopoly power.
How does expanding worldwide trade produce gains for all the nations that participate?
What will be an ideal response?
The cost involved when choosing between alternatives is known as the
A. marginal cost. B. normative cost. C. sunk cost. D. opportunity cost.
An increase in the aggregate expenditures schedule:
A. Increases aggregate demand by the amount of the increase in aggregate expenditures only B. Increases aggregate demand by the amount of the initial increase in aggregate expenditures times the multiplier C. Decreases aggregate demand by the amount of the increase in aggregate expenditures D. Decreases aggregate demand by the amount of the initial increase in aggregate expenditures times the multiplier