A free rider is one who enjoys the benefits of a public good without paying for it

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.

A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary

Economics

One of the flaws of GDP is that it

A) includes measures of changes of quality of life associated with producing output. B) includes measures of the underground economy. C) includes only transactions that take place in formal businesses. D) ignores transactions that do not take place in organized markets.

Economics

Refer to Figure 18-1. The depreciation of the dollar is represented as a movement from

A) B to A. B) B to C. C) A to C. D) A to B. E) D to C.

Economics

Production functions used in economic growth theory are always limited to two inputs: labor and capital

Indicate whether the statement is true or false

Economics