A free rider is someone who
A. hops on the bus without paying the correct bus fare.
B. buys a ticket for a movie.
C. creates a negative externality.
D. enjoys the trees I have planted and does not compensate me for them.
Answer: D
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This Application emphasizes the importance of
A) economic incentives. B) wealth distribution. C) literacy rates. D) none of the above.
Which of the following statements is FALSE?
A. An increase in income causes the demand curve for an inferior good to shift to the right. B. An increase in income causes an increase in the demand for a normal good. C. An increase in income causes a decrease in the demand for an inferior good. D. A decrease in income causes the demand curve for a normal good to shift to the left.
Ricky is thinking about borrowing $10,000 from Fred. He promises Fred cash flows of $5000 for the next three years. If Fred's cost of capital is 10%, what is the present value of the stream of cash flows?
a. $9873.45 b. $12,434.26 c. $11,342.76 d. $8677.69
One-fifth of the population, rank ordered by income, is
A. An income quintile B. An earnings-population quintile. C. A population quintile. D. None of the choices are correct.