One solution to the "Tragedy of the Commons" is to turn the common resource into a private good
a. True
b. False
Indicate whether the statement is true or false
True
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The World Bank is an international organization that
A) promotes the growth of trade by setting rules for how tariffs and quotas are set by countries. B) makes loans to countries to finance projects such as dams and roads. C) makes loans to countries with balance of payment difficulties. D) helps developing countries that have been having difficulties in repaying their loans to come to terms with lenders in the West.
In a static game, firms
A) compete multiple times until there is a winner. B) compete only once. C) must have complete information. D) act sequentially.
Which of the following is a private owner prohibited from doing?
a. selling the property to another person b. erecting a fence designed to keep others from using the property c. painting the property a color that others do not like d. using the property in a manner that invades or infringes on the property of another
If reserves pay interest below the market federal funds rate, why would a bank hold any excess reserves?
What will be an ideal response?