Which of the following does not illustrate the free rider problem?
A. Frank enjoys the fireworks from his lawn and does not purchase a ticket to view the display from the stadium.
B. Amy does not contribute to public television, but she watches it every day.
C. Roger refuses to help pay for the private security officer who patrols his neighborhood.
D. Amanda, a taxpayer, prefers to check out books from her local library rather than purchasing them herself.
Answer: D
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If a plaintiff believes there is a 50 percent chance they will win $250,000 and a 50 percent chance they will win nothing (zero), and the litigation cost is $50,000, what is the expected value of the litigation for the plaintiff?
A) $75,000 B) $175,000 C) $50,000 D) $125,000
The existence of a universal law of scarcity creates pressures on societies to
a. use their resources according to government plans. b. economize in the use of their resources. c. allocate their resources equitably. d. exploit their resources.
The general message of the full disclosure principle is that
A. the lack of evidence that something resides in a favored category will often suggest that it belongs to a less favored one. B. producers should offer lifetime warranties for low quality products. C. information is costly to fake. D. information is symmetric.
Prior to an expanded child care subsidy program in Illinois, the labor force participation rate of single mothers in Illinois was 45% and in Wisconsin was 48%. After Illinois expanded its child care subsidy program, the participation rate increased to 58% in Illinois and to 51% in Wisconsin. The expanded child care program in Illinois is estimated to increase labor force participation of single mothers by how much according to a difference-in-differences estimator?
A. 7% B. 13% C. 6% D. 3% E. 10%