Where a free-rider problem exists, goods tend to be:
a. underproduced
b. overproduced.
c. high-priced and available only to the rich.
d. low priced and available only to the poor.
a
You might also like to view...
Why is a guaranteed-income program based on the principle of selectivity?
The relationship between the growth rate of an economic variable, gt, and its level, yt, can be approximated by
A) gt = yt - yt - 1. B) gt = logt - log yt - 1. C) yt = log gt - log gt - 1. D) log gt = yt - yt - 1.
A shift in the LM curve to the left could be caused by
a. an increase in the price level. b. a decrease in the money supply. c. an increase in the precautionary demand for money. d. all of the above. e. none of the above.
The revealed preference approach can provide more informative comparisons of market baskets if we also assume that the consumer's indifference curves are:
A) concave. B) convex. C) incomplete. D) intransitive.