Public Broadcasting reads the names of local contributors on the air. This is likely to ________ the free-rider problem and lead to a ________ level of contribution to the public good.
A. increase; smaller
B. increase; larger
C. reduce; smaller
D. reduce; larger
Answer: D
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Based on Table 9.2, total savings, private plus public, is equal to
A) 3 percent of GNP. B) 18 percent of GNP. C) 16 percent of GNP. D) 20 percent of GNP. E) None of the above.
Financial intermediaries are
A) institutions that regulate financial instruments. B) organized exchanges where currencies are traded. C) organized exchanges where securities and financial instruments are bought and sold D) institutions that make loans to borrowers and obtain funds from savers.
The Nash equilibrium of this game is for Jet Cruises to ________ and Easy Sail to ________.
Jet Cruises wants to prevent Easy Sail from entering the sailboat market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Jet Cruises and Easy Sail have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) Ad; Ad
B) No Ad; Ad
C) Ad; No Ad
D) No Ad; No Ad
The idea that a large national debt is "mortgaging the future of our children and grandchildren" is misleading because:
a. it is the Federal Reserve that will be responsible for making interest payments on the debt. b. future generations will have to bear the opportunity costs of the resources that are used today. c. future generations will not be liable for the interest obligations of the national debt. d. future generations will inherit the interest income as well as the interest obligations.