One way of overcoming the problem of the commons is to make it private property
Indicate whether the statement is true or false
TRUE
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The above table gives the demand schedule for a monopoly. The demand is elastic at all prices between
A) $6 and $1. B) $5 and $1. C) $3 and $1. D) $6 and $4. E) $4 and $3.
When the Fed embarked on a policy known as quantitative easing, they
A) reduced the required reserve ratio by one-quarter point per month for 12 months. B) bought longer-term securities than are usually bought in open market operations. C) opened up lending to primary dealers, commercial banks, and investment banks. D) slowly lowered the federal funds rate target until it was equal to zero.
Which of the following is a correct conclusion regarding the successful implementation of fiscal policy?
A. Successful fiscal policy would be easy to achieve if Congress would stay out of the economy and permit natural market forces to restore full-employment equilibrium. B. Successful fiscal policy is difficult to achieve because in the real world, the investment, net exports, and consumption schedules are constantly shifting. C. Successful fiscal policy is much easier to achieve today because econometric models make economic forecasting much easier. D. As the income-expenditure model suggests, fiscal policy planners can move GDP to any level they please by changing tax and spending levels.
The problem with adopting a fair-return pricing policy for a natural monopoly is that:
A. Economic profits will be positive B. Economic profits will be negative C. It is not productively efficient D. It is not allocatively efficient