What is the drop-in-the-bucket problem?
What will be an ideal response?
The drop-in-the-bucket problem is that public goods are usually so expensive that their provision generally does not depend on whether or not any single person pays. Their contribution is considered to be a "drop in the bucket".
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The interest rate charged on a risk-free loan exceeds the rate on a risky loan
a. True b. False
When the demand and supply of grapes both increase by the same magnitude, we can predict that the: a. price of grapes will not change
b. quantity of grapes exchanged will fall. c. quantity of grapes exchanged will rise. d. Both a. and c. are correct.
If Billy's reservation price on a snowboard is $250, how many snowboards would he buy if the market price of snowboards is $500?
A. 0 B. 1 C. 2 D. The amount of snowboards purchased would depend on Billy's income.
The United States imports heavily in all of the following markets except
A. Coffee. B. Aluminum. C. Chromium. D. Aircraft.