The incentive to collect information is undermined by the ________
A) opportunity cost of collecting information
B) asymmetric character of information flows
C) free rider problem
D) Willamette effect
C
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In a graph with output in the Y axis and efficiency units of labor in the X axis, which of the following causes a rightward movement along the aggregate production function?
A) A decrease in the capital stock B) An increase in the total efficiency units of labor C) An improvement in technology D) A decrease in the productivity of workers
What matters to people is the real value of money or income
Indicate whether the statement is true or false
Show the short-run impact of the following factors on GDP using a graph of the aggregate goods and services market. Assume the economy was originally in long-run equilibrium
a. a stock market crash b. a decrease in the real interest rate c. a flood that destroys most agricultural crops d. a decrease in resource prices e. an increase in the labor force f. an increase in the expected inflation rate
Which of the following is most likely a private good?
A.) Police protection B.) Cars C.) Highways D.) Parks