Because of free riders, the demand for a public good:
A. does not get expressed in the market, but the good does get produced by private sellers.
B. gets expressed in the market, and the good does get produced by private sellers.
C. gets expressed in the market, but the good does not get produced by private sellers.
D. does not get expressed in the market, and the good does not get produced by private sellers.
Answer: D
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Since World War II, the likelihood that the job of a new college graduate will be directly or indirectly affected by world trade
A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend. E) increased slightly before dropping off.
The size of a firm relative to the size of the market can be referred to as
A) an economic profit guarantee B) a marginal profit factor C) core competency D) economies of scale
In the market for money, the behavior of savers is represented by the
A. supply curve. B. demand curve. C. a combination of the supply and demand curves. D. neither the supply curve nor the demand curve.
Which of the following statements best characterizes the Classical view of business cycles?
A. Fluctuations in business activity are to be expected and should be accepted. B. The appropriate macroeconomic policy can eliminate fluctuations in business activity. C. Fluctuations in business activity occur in regular and predictable patterns. D. Business cycles are symptoms of underlying problems and should be addressed by macroeconomic policy.