The "tragedy of the commons" is most likely to occur with which one of the following goods?
a. A national forest
b. A mineral ore deposit
c. A public highway
d. A groundwater aquifer
e. A city park
Answer: d. A groundwater aquifer
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Assuming all else equal, if a firm decides to pay more dividends and lowers the amount of retained earnings it holds, it will cause:
A) an upward movement along the current credit supply curve of the firm. B) a downward movement along the current credit supply curve of the firm. C) the current credit supply curve of the firm to shift to the left. D) the current credit supply curve of the firm to shift to the right.
Which of the following is an example of an external benefit?
A) a ton of coal burned in a power plant to produce electricity B) a car accident that crowds a major Los Angeles freeway C) the production of a slice of pizza D) the cleanup of a large lake E) the consumption of a can of Mountain Dew
In the money market, a condition of excess supply of money can be eliminated by a ________ in aggregate output or a ________ in the interest rate, everything else held constant
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
An autonomous appreciation of the U.S. dollar makes American goods ________ expensive relative to foreign goods which ________ net exports in the U.S
A) less; decreases B) less; increases C) more; decreases D) more; increases