Free riding is a problem
A) if an individual's contribution to a team is not easily measured.
B) if an individual's contribution is to a team is easily measured.
C) when monitoring is costless.
D) when team members are altruistic.
A
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Refer to Figure 2-14. What is the opportunity cost of producing 1 snow cone in Greenland?
A) 2/3 of a popsicle B) 5/6 of a popsicle C) 1 1/5 popsicles D) 200 popsicles
Measurement of economic values after adjustments have been made for changes in the average of prices between years in known as
A. a deflator. B. real values. C. nominal values. D. the price index.
A Gini of 0 implies that:
a. every family has an equal amount of income. b. the top 10% of the families appropriate almost 100% of the total income. c. the bottom 90% of the families have only 10% of the total income. d. the bottom 20% of the families have 80% of the total income. e. only 1 family appropriates the entire national income.
The inflation rate is a:
a. percentage decrease in price level. b. percentage increase in price level. c. sustained increase in relative prices. d. sustained decrease in relative prices. e. sudden increase in the weighted average of all prices.