Negative externalities and the tragedy of the commons are problems that have a common source. What is this common source?
A) a lack of competition
B) self-interest motives of producers and consumers
C) a lack of clearly-defined and enforced property rights
D) an overabundance of resources
C
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An increase in the nominal interest rate
A) shifts the demand for money curve rightward. B) shifts the demand for money curve leftward. C) leads to an upward movement along the demand for money curve. D) leads to a downward movement along the demand for money curve.
Which of the following is not true of all indifference curves?
A) they slope downward B) the point at which one indifference curve intersects another represents an optimal consumption basket C) they are bowed toward the origin D) they can intersect with a budget constraint one or more times
Which of the following countries receives the largest share of U.S. exports?
a. Mexico b. Germany c. Japan d. Canada e. United Kingdom
If products A and B are complements and the price of B decreases, the:
A. demand curves for both A and B will shift to the left. B. amount of B purchased will increase, but the demand curve for A will not shift. C. demand for A will increase and the quantity of B demanded will increase. D. demand for A will decline and the demand for B will increase.