The International Space Station is a joint project of the United States, Russia, Japan, Canada and the European Union. This suggests that _____
a. if the space station is a public good then the optimal size of the sharing group is larger than one country
b. each country would have been unable to raise the money to pay for the space station on their own
c. there are significant negative externalities involved that should be spread over more individuals
d. Australians do not value space exploration
a
You might also like to view...
The higher the real wage rate, the higher the labor force participation rate
Indicate whether the statement is true or false
Refer to Figure 18-3. Consider the market for U.S. dollars against the Japanese yen shown above. An event which could have caused the changes shown in the graph would be
A) an increase in U.S. real income. B) an economic expansion in the United States. C) speculators expect the dollar to depreciate in value in the near future. D) a decrease in Japanese interest rates.
If a firm hires 10 workers at $6 per hour each and the 11th worker will be hired only if the wage rate falls to $5 per hour, the marginal wage rate must be
A. -$5. B. $5.50. C. -$5.50. D. $5.
Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive.
In the long run, the equilibrium price will be ________ per gallon, and each firm's profit-maximizing quantity will be ________ gallons per week.
A. $20; 400 B. $15; 300 C. $20; 4,000 D. $15; 6,000