The free-rider problem is triggered by being:
A. excludable and rival in consumption.
B. excludable and nonrival in consumption.
C. nonexcludable.
D. rival in consumption.
Answer: C
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A decrease in the value of a currency in terms of other currencies is known as
A) an appreciation. B) a depreciation. C) a par value. D) a gold point.
The redirection of macroeconomic policy that took place during the Reagan and both Bush administrations was inspired by
a. supply-side economics. b. real business cycle theory. c. new classical economics. d. new Keynesian directions.
________: a government tax imposed on goods or products entering a country
Fill in the blank(s) with correct word
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.