In the case of nonexcludable goods, economists contend that the market ___________ produce these goods because of the ________________________
A) will; free rider problem
B) will not; law of diminishing marginal utility
C) will not; law of diminishing marginal returns
D) will not; free rider problem.
D
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Which of the following would cause the dollar to depreciate?
A) an increase in the demand for dollars B) a decrease in the demand for imports from foreign countries C) a decrease in the supply of dollars D) a decrease in the demand for dollars
Refer to Table 9-6. Select the statement that accurately interprets the data in the table
A) Celeste has an absolute advantage in making saddles and spurs. B) Mateo has an absolute advantage in making saddles and spurs. C) Neither Mateo nor Celeste has an absolute advantage in making spurs. D) Neither Mateo nor Celeste has an absolute advantage in making saddles.
According the principle of time inconsistency, the most important element of policy making is
a. predictability. b. transparency. c. credibility. d. judgment
Figure 10-18
Based on , when the aggregate demand curve is in the position AD1, the economy's position of long-run equilibrium corresponds to point
a.
E1.
b.
E2.
c.
E3.
d.
E1 or E2.