Political advocacy:
A. and political engagement are not affected by the free-rider problem.
B. can suffer from the free-rider problem, but political engagement does not.
C. is not affected by the free-rider problem, but political engagement is.
D. and political engagement can suffer from the free-rider problem.
Answer: D
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If a currency increases in value as a result of government decree rather than market forces, the process is known as
A. reflation. B. revaluation. C. appreciation. D. value-added.
A positive level of net exports contributes directly to
a. demand in the resources market. b. supply in the loanable funds market. c. demand in the loanable funds market. d. demand in the goods and services market.
In constructing a demand curve for product X:
A. consumer preferences are allowed to vary. B. the prices of other goods are assumed constant. C. money incomes are allowed to vary. D. the supply curve of product X is assumed constant.
Assume that for a given consumer, the marginal utility of wine is 100 and the price of wine is $60. Also, assume that the marginal utility of lobster is 200 and the price of lobster is $100. This consumer
A) is in equilibrium. B) should buy more lobster. C) should buy more wine. D) can't tell; insufficient information given to answer the question