________ arises when people realize they will still receive the benefits of a good whether they pay for it or not.
A. The voting paradox
B. The drop-in-the-bucket problem
C. Logrolling
D. The free-rider problem
Answer: D
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All of the following can be used to reduce risk except which one?
A) settling a law suit B) entering into litigation C) purchasing insurance D) diversifying your stock portfolio
The Hound Dog Bus Company contemplates expanding its Virginia operations by offering service from Fairfax to Arlington. The total cost of the trip would be $120, of which $50 is fixed cost, which it has already paid. The firm expects to earn $60 in revenue from the trip. The Hound Dog Bus Company should
a. offer this service because it will earn a positive economic profit b. not offer this service because the marginal revenue is less than the marginal cost c. offer this service because the revenue exceeds fixed cost d. not offer this service because the total cost exceeds the total revenue e. offer this service because the added revenue exceeds the added cost of this service
As of 2015, per capita GDP in the United States was approximately
A. $37,000. B. $26,000. C. $56,000. D. None of the choices are correct.
All of the following are reasons that trade between nations is beneficial EXCEPT
A. gains from trade. B. protection of domestic industries. C. gains from specialization. D. exchange of ideas.