(Consider This) The tragedy of the commons occurs primarily:
A. where government subsidies are present.
B. when incentives to preserve are strongest.
C. where property rights are lacking.
D. on privately held lands.
Answer: C
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Refer to Table 11-6. Alicia Gregory owns a foot massage business. She leases 4 computer-controlled massage booths, for which she pays $125 per day. She cannot increase the number machines she leases without giving the manufacturer 3 months notice
She can hire as many workers as she wants at a cost of $75 per day per worker. These are the only two inputs she uses in her business. Use this information to fill in the columns in the above table.
Which of the following is most likely to shift the demand curve for electricity to the left?
a. consumers becoming more energy conscious. b. an increase in income. c. a decrease in the price of electricity. d. an increase in the price of natural gas, a substitute source of energy.
If a person is concerned that an additional $1,000 income will move him/her into a new tax bracket, that person is worried about the:
a. proportional rate. b. regressive tax rate. c. marginal tax rate. d. flat tax rate.
The Fed classifies different types of money depending on its:
A. liquidity. B. resale value. C. commodity back. D. intrinsic value.