One "design principle" that makes informal, community-based solutions to public goods and common resource problems more effective is:
A. clear distinctions between who is and is not allowed to access the resource.
B. the participation of resource users in setting the rules for use.
C. the ability of users to monitor one another.
D. All of these are important to the effectiveness of community-based solutions.
D. All of these are important to the effectiveness of community-based solutions.
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________ are the largest components of state and local government revenue
A) Individual income taxes and corporate income taxes B) Transfers from federal government and sales taxes C) Individual income taxes and sales taxes D) Transfers from federal government and corporate income taxes E) Corporate income taxes and lottery income
Suppose the Fed raises the federal funds rate. Put the following changes in order in which they occur, starting with the changes that take place almost immediately and ending with the changes that may occur up to two years afterwards:
i. Short-term interest rates rise. ii. Long-term interest rate rises. iii. Aggregate demand decreases. iv. Inflation rate decreases. A) ii-i-iv-iii B) ii-i-iii-iv C) i-ii-iv-iii D) i-iii-ii-iv E) i-ii-iii-iv
What is market failure? How can the government correct market failure?
What will be an ideal response?
Which statement is true?
A. Comparative advantage and absolute advantage are identical terms. B. A country can have a comparative advantage without having an absolute advantage. C. The U.S. has a comparative advantage and an absolute advantage with nearly all of its trading partners. D. Trade cannot take place unless each trading partner has an absolute advantage in the production of the good or service that it is trading.