A charity that used to offer contributors private goods such as coffee mugs, books, or magazine subscriptions, but no longer does, 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: A
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The income elasticity of demand is
A) positive for a normal good. B) zero for an inferior good. C) less than one for an income elastic normal good. D) Only answers A and B are correct. E) Answers A, B, and C are correct.
Refer to the above figure. For a normal good, the rightward shift of the curve could have been caused by
A) a technological improvement. B) an increase in the cost of inputs. C) an increase in income. D) a decrease in income.
Many student government candidates at colleges and universities propose rent controls on local rental housing as a way to help students afford rental housing. Economic theory suggests that this policy would harm students as a whole despite the fact that some students who are able to find housing at the reduced price would benefit. Which of the following are some of the offsetting secondary
effects of the rent controls that would work to the disadvantage of students? a. There would be a shortage of rental housing, making it very difficult for students to find places to rent and causing increased discrimination in the rental housing market. b. There would be a reduction in the quality of rental housing. c. There would be a reduction in the future supply of rental housing. d. All of these would be secondary effects of the rent controls.
Which movie is an allegory about late 19th century monetary policy?
a. The Wizard of Oz b. Mary Poppins c. It's a Wonderful Life d. Trading Places