The "free-rider problem" of public goods refers to
a. individuals' refusal to pay taxes
b. individuals' attempts to hide their preferences for collective goods and to avoid paying for them.
c. individuals' overuse of collective goods.
d. the inelasticity of individuals' demands for public goods.
b
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Consider a demand curve for reckless driving, for which the "price of reckless driving" is interpreted as the probability of having a fatal accident. When could safer cars lead to an increase in total number of driver fatalities?
a. Always. b. Never. c. When the demand curve is relatively flat. d. When the demand curve is relatively steep.
The fundamental reason that marginal cost eventually rises as output increases is because of
a. economies of scale. b. diseconomies of scale. c. diminishing marginal product. d. rising average fixed cost.
Any value of the money supply chosen by the Federal Reserve implies a specific value for ________.
A. government purchases B. potential output C. the budget deficit D. the nominal interest rate
Who expressed this view? "Unlike the present period, (black) inner-city communities prior to 1960 exhibited the features of social organization—including a sense of community, positive neighborhood identification, and explicit norms and sanctions against aberrant behavior."
A. Charles Murray B. William Julius Wilson C. Mickey Kaus D. Lisabeth Schorr