Public Broadcasting reads the names of local contributors on the air. This 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: D
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In a housing market with a rent ceiling below the equilibrium rent, apartment seekers spend more time searching for an apartment than they would in a housing market without a rent ceiling. Why does this difference exist?
A) In the market with the rent ceiling, renters are searching for the best buy in apartments. B) In the market with the rent ceiling, there is a wide variety in the quality of apartments for rent. C) In the market with the rent ceiling, the quantity of housing demanded is greater than quantity supplied at the ceiling price. D) The premise of the question is incorrect because people spend less time searching with a rent ceiling since they no longer need to look for a low-priced apartment. E) The premise of the question is incorrect because there is no difference in the search time between a market with a rent ceiling and one without a ceiling.
On the graph above (and considering the short run only), a combination of a negative demand shock and a negative supply shock may be represented by the movement from point ________ to point ________
A) G; I B) H; F C) H; I D) G; F E) G; H
Which of the following is not true of collective decision-making costs?
a. They impede collective action. b. They are the reason why unanimity rule is not the optimal decision-making rule. c. They imply that simple majority rule is the optimal decision-making rule. d. They increase the closer the decision rule gets to unanimity.
If the interest rate is 8 percent, then the present value of $1,000 to be received in 4 years is $735.03
a. True b. False Indicate whether the statement is true or false