When we consider solving a free rider problem through changing social norms, it is helpful to remember:
A. all costs aren't financial.
B. social disapproval can be considered a cost.
C. conflict with those in your community can be considered a cost.
D. All of these statements are true.
D. All of these statements are true.
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The central idea behind the Troubled Asset Relief Program was for the Treasury to sell mortgage-backed securities to interested investors, wait for prices to increase, and then buy these securities back for a profit
a. True b. False Indicate whether the statement is true or false
Describe the process in the money market by which the interest rate reaches its equilibrium value if it starts above equilibrium
In the short run, a decrease in the money supply causes interest rates to
a. increase, and aggregate demand to shift right. b. increase, and aggregate demand to shift left. c. decrease, and aggregate demand to shift right. d. decrease, and aggregate demand to shift left.
When a resource has a perfectly elastic supply curve
A) the amount of economic rent for the resource is determined by its supply. B) the amount of economic rent for this resource is determined by demand for the resource. C) there is no economic rent being earned by this resource. D) the entire payment received by this resource is economic rent.