Free riders are not a problem in the market for a private good because
A) non-payers can be excluded from consuming the good.
B) the good is a rival good.
C) the good can be produced only at a positive marginal cost.
D) the free rider will not get caught.
A
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The market value of domestic production is equal to the total expenditure on domestic agents:
A) plus the expenditure of foreign agents on exports minus gross investment by the foreign firms. B) plus the expenditure of foreign agents on exports minus domestic expenditure on imports. C) plus domestic expenditure on imports. D) plus domestic expenditure on imports minus the expenditure of foreign agents on exports.
In response to Economist Jeffrey Sachs' big push theory:
A. NATO funded 13 Millennium Villages. B. the U.S. funded half of NATO's village project. C. the UN developed 8 Millennium Development Goals. D. the UN declared a moratorium on all foreign aid.
Which of the following would likely occur if a larger number of highly skilled workers were allowed to immigrate to the U.S.?
a. The average wage for highly skilled workers would decline. b. The average wage for highly skilled workers would increase. c. The supply curve for highly skilled workers would shift to the left. d. The demand curve for highly skilled workers would flatten out.
The monopolistically competitive firm differs from monopoly in that its
a. demand curve is flatter. b. demand curve slopes downward. c. MR curve lies below its demand curve. d. profit is maximized where MR = MC.