Public Broadcasting, in its fund drives, often appeals to viewers by saying, "without you, there will be no Big Bird." This is likely to ________ the free-rider problem and lead to a ________ level of contribution to the public good.
A. increase; smaller
B. increase; larger
C. reduce; smaller
D. reduce; larger
Answer: D
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Financial Crisis Suppose that banks are less able to raise funds and so lend less. Consequently, because people and households are less able to borrow, they spend less at any given price level than they would otherwise. The crisis is persistent so lending should remain depressed for some time. Refer to Financial Crisis. What happens to the price level and real GDP in the short run?
a. both the price level and real GDP rise b. the price level rises and real GDP falls c. the price level falls and real GDP rises d. both the price level and real GDP fall
The holder of a corporate bond
a. receives a guaranteed dividend payment each year b. can vote at shareholder meetings c. can vote only for the board of directors at shareholder meetings d. is a part owner of the business e. receives, at most, a stated interest payment on the investment
Gross Domestic Product is best described as the
a. measure of a nation's total economic welfare. b. national income, including nonmarket income. c. sum of money values of all final output produced in the domestic economy within the year. d. national output minus environmental damage.
Refer to the figure below:
If the price is $16, the resulting
A. surplus will lead to a rise in price. B. shortage will lead to a fall in price. C. surplus will lead to a fall in price. D. shortage will lead to a rise in price.