In the case of public goods, the ability to free ride on the efforts of others is an example of
A) low transactions costs.
B) insecure property rights.
C) government subsidization.
D) mutual assurance.
B
You might also like to view...
Monetarists argued that the Fed wasn't serious about adhering to a money-growth target because
A) it was unable to reduce inflation at all. B) it tried to target three different monetary aggregates simultaneously. C) the sacrifice ratio remained too high. D) it gave too much weight to movements in exchange rates.
Which of the following is the exponential trend equation to forecast sales (S)?
A) S = a + b(t) B) S = a + bt C) S = a + b(t) + c(t)2 D) None of the above
The marginal revenue product of labor is
A) the marginal physical product multiplied by marginal revenue. B) the marginal revenue of output multiplied by the price of the input. C) total sales divided by total labor employed. D) total labor employed divided by total sales.
If the deficit is 0.1 times GDP, the existing debt—GDP ratio is 0.5, and the growth rate of nominal GDP is 0.04, then the change in the debt—GDP ratio is
A) +0.08 B) +0.075. C) 0. D) -0.075.