One way the government can enhance efficiency through the management of common resources is by:
A. banning the good.
B. setting quotas for the good.
C. government provision of the good.
D. All of these can be effective and efficiency-enhancing solutions.
D. All of these can be effective and efficiency-enhancing solutions.
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All games have which features?
A) prices, rules, and payoffs B) rules, markets, and prices C) rules, strategies, and payoffs D) rules, strategies, and costs E) equilibrium, prices, and quantities
All other things constant, the entry of new firms into a labor intensive industry like carpet weaving is likely to: a. shift the market demand for labor curve to the right
b. make the market demand for labor curve steeper. c. shift the demand for labor curve for each carpet producer to the left. d. shift the market supply of labor curve to the left.
If a large percentage change in price leads to a smaller percentage change in quantity demanded, the result is a:
A. very elastic demand. B. high magnitude of response. C. less elastic demand. D. low magnitude of response.
Traveler's checks are included in which of the following?
A. M2 only. B. M1 only. C. Both M1 and M2. D. None of the choices are correct.