When organizing a collective action, it is generally true that the larger the group the:
A. lower the costs and benefits per person.
B. higher the costs and lower the benefits per person.
C. lower the costs and higher the benefits per person.
D. higher the costs and benefits per person.
B. higher the costs and lower the benefits per person.
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In the United States, the distribution of income after the income tax is ____ the distribution of income before the income tax.
A. slightly less equal than B. about as equal as C. slightly more equal than D. a great deal more equal than
The quantity supplied of loanable funds
a. is inversely related to the rate of interest b. is directly related to the rate of interest c. affects a firm's MRP of capital d. affects a firm's MPP of capital e. affects the price of the good
Economic models are most often composed of diagrams and equations
a. True b. False Indicate whether the statement is true or false
Implicit and explicit costs are different in that:
A. explicit costs are opportunity costs; implicit costs are not. B. implicit costs are opportunity costs; explicit costs are not. C. the latter refer to nonexpenditure costs and the former to monetary payments. D. the former refer to nonexpenditure costs and the latter to monetary payments.