The free-rider problem is triggered by being:
A. nonexcludable.
B. rival in consumption.
C. excludable and rival in consumption.
D. excludable and nonrival in consumption.
A. nonexcludable.
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John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the table below:Hours PerDay CleaningWindowsTotal Numberof WindowsCleaned0017211314416517The first hour John spends cleaning windows costs him ________ that he could have earned in the grocery store.
A. $18 B. $14 C. $2 D. $7
Suppose that the price level does not change while real GDP decreases. As a result,
A) the quantity of money demanded decreases and there is a movement downward along the demand for money curve. B) the supply of money curve shifts leftward. C) the demand for money increases and the demand for money curve shifts rightward. D) the demand for money decreases so that households and firms hold smaller amounts of money. E) the supply of money curve shifts rightward.
In much of Europe, the legal age to obtain a driver's license is 18. If the legal driving age in the United States was changed to 18, how would this affect the market for new automobiles? The market for automobile insurance?
What will be an ideal response?
Recently, Chrysler bonds with a face value of $100 closed at $103. The coupon rate was 12.75 percent. The current yield on these bonds was
A. 103 percent. B. 3 percent. C. 12.75 percent. D. less than 12.75 percent.