Imagine a 2,000-acre park with picnic benches, trees, and a pond. Suppose it is publicly owned, and people are invited to enjoy its beauty. When the weather is nice, it is difficult to find parking, and the trash cans overflow with food wrappers on summer afternoons. Otherwise, it is a great place. The park is a common resource because
a. people can be prevented from using it.
b. access is limited due to driving distances.
c. if too many people use it, one person's use diminishes other peoples' use.
d. anyone can use it without affecting anyone else.
c
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Keynesians challenge the classical or monetarist view that payment schedules and patterns of spending and saving associated with the transactions demand for money are basically stable
Indicate whether the statement is true or false
What effect did the decrease in the value of the dollar have on the U.S. trade deficit in the period from 2006 to 2009?
a. It decreased the trade deficit as Americans bought more U.S. capital goods. b. It decreased the trade deficit as foreigners were attracted to the increased value of U.S. products and Americans bought fewer imports. c. It increased the trade deficit as U.S. investors bought more domestic financial assets. d. It increased the trade deficit as Americans bought more imports and foreigners bought fewer U.S. products.
A rightward shift of long-run aggregate supply without any change in aggregate demand
A. will leave real GDP unchanged. B. increases the price level without any change in real GDP. C. results in a lower price level. D. increases the price level along with an increase in real GDP.
A person who is willing to bear more risk will buy
A) common stock. B) preferred stock. C) bonds. D) government bonds.