A national campaign is asking for contributions of $1.00 per citizen to fund the building of the September 11th memorial in New York City. The total cost of the memorial is estimated to be $260 million. You decide not to contribute, because your contribution would be small relative to the total that it won't make any difference whether you contribute or not. This is an example of the ________ problem.
A. free-rider
B. nonexcludable
C. drop-in-the-bucket
D. nonrival in consumption
Answer: C
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Which of the following statements regarding a profit-maximizing monopolistically competitive firm is NOT true?
A) The MR curve lies below the demand curve. B) The firm produces the quantity at which the MR curve intersects the MC curve. C) The MC curve intersects the ATC curve at the ATC curve's lowest point. D) The firm's price equals the price at which the MR curve intersects the MC curve.
Refer to Figure 3-4. At a price of $10, how many units will be sold?
A) 200 B) 400 C) 600 D) 800
What is the difference between the Consumer Price Index and the Producer Price Index?
The size of the debt will begin to shrink if the federal government balances its budget.
Answer the following statement true (T) or false (F)