The problem of the commons is the absence of incentives to prevent overuse and depletion of the common resource
Indicate whether the statement is true or false
TRUE
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A country's balance of payments accounts records its
A) international exports and imports and nothing else. B) international trading, borrowing, and lending. C) tax receipts and expenditures. D) tariffs and nontariff revenue and government purchases. E) tariff receipts and what it pays in tariffs to other nations.
An argument against increasing centralization in elementary and secondary education is _____
a. that it is anti-egalitarian b. that there are fewer administrators to oversee extracurricular programs c. that it results in less direct accountability to students and parents d. that socialization is a problem in large school districts
An example of a government policy to increase human capital formation is:
A. government support for basic research. B. the provision of publicly-funded education. C. the construction of an interstate highway system. D. maintaining a well-functioning legal system.
A decrease in Americans' preference for foreign goods will lead to the following in the foreign exchange market:
A. an increase in the demand for dollars. B. a depreciation of the dollar relative to foreign currencies. C. a movement down the demand curve for dollars. D. a decrease in the supply of dollars.