The failure of private incentives to provide adequate maintenance of public resources leads to the tragedy of the commons
a. True
b. False
Indicate whether the statement is true or false
True
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According to the graph shown, the monopolistically competitive firm:
These are the cost and revenue curves associated with a monopolistically competitive firm.
A. will earn positive profits equal to area A.
B. will earn positive profits equal to area C.
C. will earn negative profits (a loss) equal to area A.
D. will earn negative profits (a loss) equal to area B.
To stabilize real GDP when the money demand curve shifts up on its own, the Fed must increase the money supply
a. True b. False
Unemployment insurance benefits are an example of _____
Fill in the blank(s) with correct word
After Hurricane Katrina destroyed much of the infrastructure of the United States Gulf Coast,
A) labor became more valuable. B) labor became less valuable because of the capital that had been destroyed. C) labor became less valuable because FEMA's response wasn't timely. D) labor became more valuable because of the rebuilding effort.