If whooping cranes generate benefits to some members of society by merely their continued existence, then economic markets will consider this in arriving at a level of their provision "as if by an invisible hand."
Indicate whether the statement is true or false
F
You might also like to view...
A pure public good will never be provided by individuals acting on their own initiative
Indicate whether the statement is true or false
After watching a movie, Alan chooses not to watch a second and goes for a walk instead. Economists could explain his choices using the concept of:
A. budget constraints. B. substitution effect. C. income effect. D. diminishing marginal utility.
For some products, purchases tend to decrease as the buyer's income increases. Such products are known as:
a. Normal goods b. Inferior goods c. Inverse goods d. Common goods
If the interest rate is 10 percent per year, and you have $100,000 now, which of the following is closest to what your $100,000 will be worth in four years?
A. $146,000 B. $125,000 C. $190,000 D. $175,000