The largest level of government as measured by total spending is _____
a. federal government
b. state governments
c. county governments
d. city governments
a
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If a curve falls and then rises, it
A) has a maximum. B) has a minimum. C) has a linear relationshi
The free rider problem
a. Exists in the case of public goods b. Exists in the case of common property resources c. Is worse the larger the number of people involved for either public goods or common property resources d. All of the above are true
Which of the following could lead to a rightward shift of the demand curve for a good?
a. a decrease in the price of a substitute good b. an increase in the price of a complementary good c. a decrease in the price of the good, assuming it is a normal good d. an increase in the price of the good, assuming it is an inferior good e. expectations that the price of the good will rise in the future
Suppose that the price of doughnuts decreases. Given that doughnut holes are a by-product of producing doughnuts, one would expect:
A. the supply of doughnuts to increase. B. the supply of doughnut holes to increase. C. the supply of doughnut holes to decrease. D. the supply of doughnuts to decrease.