Free riding is possible if the good is nonexcludable
Indicate whether the statement is true or false
TRUE
You might also like to view...
When the wage is above the equilibrium level,
a. the labor market is functioning more efficiently than it otherwise would function. b. there is a shortage of labor. c. the quantity of labor supplied exceeds the quantity of labor demanded. d. job search is the primary explanation for the unemployment that is observed.
Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown in the accompanying figure.
If Moe moves from Point A to point C, his grade in Physics will go down by ________ his grade in economics.
A. less than the decrease in B. more than the increase in C. more than the decrease in D. less than the increase in
High expected inflation leads to ________ increases in wages and costs and to ________ actual inflation.
A. small; low B. large; low C. small; high D. large; high
Refer to the graph below. At which point is average product (AP) at its maximum?
A. Point A
B. Point B
C. Point C
D. Point D