Without government intervention, public goods tend to be
a. overproduced and common resources tend to be overconsumed.
b. overproduced and common resources tend to be underconsumed.
c. underproduced and common resources tend to be overconsumed.
d. underproduced and common resources tend to be underconsumed.
c
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According to the text, approximately what percentage of U.S. net public debt is held by foreign residents?
A) 50% B) 20% C) 90% D) 800%
If a firm located outside of China violates China's Anti-monopoly Law, China ________ prosecute the firm ________.
A) cannot; if the firm's behavior affects the markets within China B) can; if the firm's behavior affects the markets within China C) can; regardless of whether or not the firm's behavior affects the markets within China D) cannot; regardless of whether or not the firm's behavior affects the markets within China
To maximize profits, a monopolist that engages in price discrimination must allocate output in such a way as to make identical the ____ in all markets
a. ratio of price to marginal cost b. ratio of marginal cost to marginal utility c. ratio of price to elasticity d. marginal revenue e. none of the above
The labels for the axes of an aggregate supply curve should be:
a. Aggregate demand for the vertical axis and real national output for the horizontal axis b. Real employment for the vertical axis and price level for the horizontal axis c. Real domestic output for the horizontal axis and price level for the vertical axis d. Real domestic output for the vertical axis and price level for the horizontal axis