Free riding
A) is possible if the consumption of a good is characterized by excludability.
B) is possible if the consumption of a good is characterized by nonexcludability.
C) is characteristic of private goods.
D) occurs when consumers pay too much for services provided by government.
B
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What effect does an increase in the nominal interest rate have on the opportunity cost of holding money and on the demand for money curve?
What will be an ideal response?
The ability-to-pay principle is most closely tied to the concept of
A. horizontal equity in taxation. B. fiscal federalism. C. vertical equity in taxation. D. the benefits principle of tax equity.
Property rights often remain poorly defined because of _____
a. difficulty enforcing ownership once defined b. government fiat c. strong incentives towards the status quo d. monopolies
A repeated game:
A. can be finite or infinite. B. is formed by playing a simpler game many times in succession. C. is a multiple-stage game. D. All of these are true about repeated games.