The free rider problem arises when a good is:
a. rivalrous.
b. excludable.
c. nonexcludable.
d. nonrivalrous.
e. an absolute necessity.
c
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A manager is participating in an auction where values or common or correlated and is not 100 percent certain of the value of the item. The manager ________ reduce their bid below their estimated value to ________ the winner's curse.
A) should; avoid B) should; enjoy C) should not; enjoy D) should not; avoid
The Phillips curve relationship can also be seen indirectly from the AD/AS model
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT exempt from antitrust laws?
A. labor unions B. airlines C. professional baseball D. public transit systems
If the Federal Reserve authorities were attempting to reduce demand-pull inflation, the proper policies would be to:
A. sell government securities, raise reserve requirements, raise the discount rate, and increase the interest paid on reserves held at the Fed banks. B. buy government securities, raise reserve requirements, raise the discount rate, and reduce the amount of interest paid on reserves held at the Fed banks. C. sell government securities, lower reserve requirements, lower the discount rate, and increase the interest paid on reserves held at the Fed banks. D. sell government securities, raise reserve requirements, lower the discount rate, and increase the interest paid on reserves held at the Fed banks.