Economist call a person who does not pay for a good or service they consume
A. A free loader
B. A free rider
C. Selfish
D. An opportunist
Answer: B
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What are the main objectives of most state insurance regulators?
a. Enforcing insurance mandates and monitoring insurance company profits b. Ensuring that all citizens have insurance and keeping insurance costs down c. Legislating moral hazard insurance policies and setting healthcare standards d. Monitoring adverse selection issues and setting insurance premium rates
In the events of the housing bubble collapsing, once the housing prices stopped increasing refinancing:
A. became less popular, and people's consumption overall dropped. B. became more popular, and people's consumption accelerated overall. C. was no longer an option, and a wave of foreclosures occurred. D. no longer allowed people to borrow cash on the new value of their home, and spending slowed.
Which of the following results from unexpected increases in the rate of inflation?
A. Creditors are made better off. B. Redistributions of income and wealth between different groups. C. Decreased uncertainty. D. Increased windfall profits to creditors who have lent large amounts of money.
Many governments end up with chronic budget deficits because:
A. Many government programs are popular with voters, but hardly any voter likes paying taxes B. The nation simply cannot produce everything that it consumes, so it has to rely on others C. Some resources are not available from within, so they would have to be bought from others D. Businesses do not want to have "big government" around too much