Combating the "greenhouse effect" has classic free-rider problems
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Nick has $300 a month to spend on detailing his sports car or buying bottles of good wine. It costs $100 to have his car detailed and $50 for a bottle of wine. He currently buys four bottles of wine and has his car detailed once a month. If the price of detailing his car decreased to $75, Nick's budget constraint:
A. would shift straight outward, because he is relatively wealthier. B. would rotate and change slope because relative prices have changed. C. would shift straight inward because he is relatively wealthier. D. One cannot determine what would happen without knowing Nick's marginal utility of each good.
Because economists understand what things change GDP, they can predict recessions with a fair amount of accuracy
a. True b. False Indicate whether the statement is true or false
Adam Smith believed that the best way to promote the public interest was to
A. have the government produce most goods and services. B. let people pursue their own selfish interests. C. wait for individuals to set out to promote the public interest. D. get rid of the price mechanism.
What is the social cost of a monopoly? Explain
What will be an ideal response?