If consumers decide to buy fewer strawberries, then the
A. Demand for strawberry pickers will rise.
B. Quantity demanded of strawberry pickers will fall.
C. Demand for strawberry pickers will fall.
D. Quantity demanded of strawberry pickers will rise.
Answer: C
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If one-time gains from defection are always less than the discounted present value of an infinite time stream of cooperative payoffs at some given discount rate, the decision-makers have escaped
a. the Folk Theorem b. the law of large numbers c. the Prisoner's dilemma d. the paradox of large numbers e. the strategy of recusal
Common ownership of resources:
a. is a system by which the government allocates the rights to harvest renewable resources. b. may fail to ensure that harvesting of renewable resources does not exceed the maximum sustainable yield. c. is an environmentally effective method of internalizing an externality problem in renewable resource conservation. d. efficiently controls the harvest of renewable resources. e. usually helps in preventing market failures.
Are all goods economic goods? Are all economic goods also goods? Explain
What will be an ideal response?
The total market value of all goods and services produced by factors of production within a nation is called
A. gross domestic income. B. value added. C. gross output. D. gross domestic product.