The free-rider problem is
A) the use of private goods in one state by residents of another state.
B) the incentive that people have to avoid paying for a public good.
C) the incentive that people have once they are receiving welfare to keep getting welfare.
D) that people cannot be forced to accept public goods.
Answer: B
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If a shift in aggregate demand only affects real Gross Domestic Product (GDP), then the short-run aggregate supply (SRAS) curve must be
A) upward sloping. B) downward sloping. C) horizontal. D) vertical.
The largest category of state and local government expenditures is
A) public welfare. B) highways. C) education. D) interest on their debt. E) Social Security.
The data show that an individual's wealth tends to first increase and then to decrease over the person's lifetime
Indicate whether the statement is true or false
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