The tragedy of the commons arises from the:
A. combination of rivalry and nonexcludability.
B. good being excludable.
C. combination of rivalry and excludability.
D. good being rival.
Answer: A
You might also like to view...
Which of the following causes a leftward shift in the short-run aggregate supply curve? a. An increase of goods prices while nominal incomes are unchanged
b. An increase in nominal incomes. c. An increase of full-employment real GDP. d. An increase of personal consumption expenditures while the price level is unchanged. e. An increase of personal consumption expenditures while full-employment real GDP is unchanged.
Under a system of floating exchange rates, increased demand of U.S. citizens for Japanese goods will cause
a. the Japanese yen to depreciate against the U.S. dollar. b. the U.S. dollar to appreciate against the Japanese yen. c. the Japanese yen to appreciate against the U.S. dollar. d. the exchange rate between the Japanese yen and the U.S. dollar to remain unchanged.
Cyclical deficit (surplus):
What will be an ideal response?
There are two employers in Bucolic that hire people who do not have a high school degree: a grocery store and a hardware store. The grocery store pays $10 per hour and the hardware store pays $12 per hour. People who work at either store can work as many hours as they want at those wages. Assume that it takes two hours to interview for a job. Lee works at the grocery store, but would like to work at the hardware store. If Lee interviews at the hardware store, there is a 10 percent probability of being hired. Assume that Lee is risk-neutral. How many hours must Lee anticipate working at the hardware store to justify interviewing for the job?
A. 60 hours B. 100 hours C. 1 hour D. 10 hours