Farmers can avoid the free rider problem associated with the benefits received from beekeepers by:
a. forming local associations who contract with beekeepers.
b. excluding non payers from using the services provided by beekeepers.
c. fixing a low charge for the service provided by beekeepers.
d. contracting with selective beekeepers and giving them a share of farm output.
A
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If wages and prices are flexible, then an anticipated change in the money supply will cause wages and prices to __________ the actual inflation rate
A) increase at the same rate as B) increase at a higher rate than C) increase at a slower rate than D) cannot be exactly predicted
Kate's Great Crete (KGC) is a local monopolist of ready-mix concrete. Its annual demand function is Q = 20,000 - 400P, where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. What price does KGC charge per unit when it sells 5,000 cubic years of concrete per year?
A. $12.50 B. $25.00 C. $37.50 D. $50.00
The investment function tells us, at any given interest rate
A) how many funds people will invest in the stock market. B) how many funds people will earn on their stock market investments. C) how profitable it will be for firms to expand. D) how much businesses will spend on adding to the capital stock.
The aggregate supply curve indicates the:
a. relationship between prices and the aggregate quantity of goods and services purchased by consumers, investors, governments, and foreigners (net exports). b. relationship between prices and the natural rate of unemployment. c. relationship between the real wage rate and the quantity of labor supplied by households. d. quantity of goods and services producers will supply at different price levels.