Which of the following conditions is violated if there is a free rider problem?
(a) universality
(b) exclusivity
(c) transferability
(d) enforceability
B
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Which of the following most resembles a case of statistical discrimination?
A) Judy only hires military veterans because she believes it is her patriotic duty to do so. B) Due to the consequences of his behavior as a teenager, Marcel now hates police officers and refuses to hire any retired cops as security guards for his legal marijuana co-op in Denver. C) Barney thinks that people who attended public high schools have better social skills than people who were home schooled, so he tends to hire those with public school educations as telemarketers. D) Penelope believes her customers would be frightened away by salespeople with tattoos, so she only hires people with no visible body art.
What occurs if a price floor is set above the equilibrium price? What occurs if a price ceiling is set below the equilibrium price?
What will be an ideal response?
By 1975, government expenditures were about ______ of GDP.
a. one-fourth b. one-third c. one-half d. two-thirds
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.